Vuzix (NASDAQ:VUZI) Releases Earnings Results, Misses Estimates By $0.02 EPS

Vuzix (NASDAQ:VUZIGet Rating) announced its quarterly earnings data on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02), MarketWatch Earnings reports. Vuzix had a negative net margin of 306.70% and a negative return on equity of 27.03%. The company had revenue of $2.50 million for the quarter, compared to the consensus estimate of $3.40 million. During the same period last year, the business posted ($0.12) earnings per share. The firm’s quarterly revenue was down 34.2% compared to the same quarter last year.

NASDAQ VUZI opened at $4.13 on Thursday. The stock has a market capitalization of $263.05 million, a PE ratio of -6.26 and a beta of 2.41. Vuzix has a 1 year low of $3.88 and a 1 year high of $20.30. The business’s 50-day moving average is $5.92 and its 200 day moving average is $7.92.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new stake in shares of Vuzix in the first quarter worth about $71,000. Envestnet Asset Management Inc. boosted its position in Vuzix by 23.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 17,484 shares of the company’s stock valued at $115,000 after acquiring an additional 3,339 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Vuzix by 22.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,155 shares of the company’s stock valued at $133,000 after acquiring an additional 3,679 shares in the last quarter. Citigroup Inc. boosted its position in Vuzix by 103.1% during the 4th quarter. Citigroup Inc. now owns 15,794 shares of the company’s stock valued at $137,000 after acquiring an additional 8,016 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Vuzix by 49.5% during the 4th quarter. LPL Financial LLC now owns 17,364 shares of the company’s stock valued at $151,000 after acquiring an additional 5,751 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors.

A number of research analysts have recently issued reports on the company. Craig Hallum reduced their price objective on Vuzix from $30.00 to $11.00 in a research note on Wednesday, March 2nd. Zacks Investment Research raised Vuzix from a “sell” rating to a “hold” rating in a research note on Thursday, May 5th.

About Vuzix (Get Rating)

Vuzix Corporation, together with its subsidiaries, designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices for consumer and enterprise markets in North America, the Asia-Pacific, Europe, and internationally. It provides M300XL, M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; and Vuzix Shield smart glasses, as well as custom and engineering solutions.

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Earnings History for Vuzix (NASDAQ:VUZI)

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