Zacks Investment Research upgraded shares of Vuzix Corporation (NASDAQ:VUZI) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The brokerage currently has $7.00 target price on the stock.
According to Zacks, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York. “
Separately, Maxim Group set a $11.00 price target on shares of Vuzix Corporation and gave the company a buy rating in a research report on Wednesday, July 19th.
Vuzix Corporation (VUZI) traded down 1.230% on Thursday, hitting $6.025. The stock had a trading volume of 59,635 shares. The firm’s 50 day moving average price is $6.02 and its 200-day moving average price is $6.17. The stock’s market cap is $124.56 million. Vuzix Corporation has a 12 month low of $5.00 and a 12 month high of $9.50.
Vuzix Corporation (NASDAQ:VUZI) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.01). The firm had revenue of $1.33 million for the quarter. Vuzix Corporation had a negative net margin of 524.82% and a negative return on equity of 143.10%. On average, analysts forecast that Vuzix Corporation will post ($0.76) EPS for the current year.
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In other news, COO Paul A. Boris purchased 10,000 shares of Vuzix Corporation stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average price of $6.10 per share, with a total value of $61,000.00. Following the transaction, the chief operating officer now owns 160,000 shares in the company, valued at $976,000. The purchase was disclosed in a document filed with the SEC, which is available through this link. 22.90% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of VUZI. Bank of New York Mellon Corp acquired a new stake in Vuzix Corporation in the 1st quarter valued at approximately $108,000. KCG Holdings Inc. acquired a new stake in Vuzix Corporation in the 1st quarter valued at approximately $243,000. Carl Domino Inc increased its holdings in Vuzix Corporation by 11.4% in the 2nd quarter. Carl Domino Inc now owns 39,000 shares of the company’s stock valued at $255,000 after purchasing an additional 4,000 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Vuzix Corporation by 261.3% in the 2nd quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock valued at $251,000 after purchasing an additional 27,700 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Vuzix Corporation by 15.0% in the 2nd quarter. Vanguard Group Inc. now owns 646,120 shares of the company’s stock valued at $4,232,000 after purchasing an additional 84,127 shares during the last quarter. Hedge funds and other institutional investors own 8.60% of the company’s stock.
About Vuzix Corporation
Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The companys products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games. Its products include binocular wearable displays that contain two micro displays mounted in a frame attached to eyeglass-style temples or stereo headphones; monocular smart glasses products for the enterprise, industrial, and commercial markets, as well as video headphones; augmented reality products, which provide the user a live, direct or indirect, view of a physical, and real-world environment; and video viewing glasses as mobile displays for entertainment and gaming for on-the-go users, as well as support for stepping into virtual worlds, simulations, and virtual reality gaming.
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