Craig Hallum Cuts Vuzix (NASDAQ:VUZI) Price Target to $3.00

Vuzix (NASDAQ:VUZI) had its target price lowered by Craig Hallum from $3.50 to $3.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Vuzix Trading Down 2.8 %

NASDAQ VUZI opened at $1.20 on Tuesday. Vuzix has a 12 month low of $1.10 and a 12 month high of $6.06. The stock has a market cap of $77.34 million, a P/E ratio of -1.87 and a beta of 1.86. The stock’s fifty day moving average price is $1.47 and its 200-day moving average price is $2.12.

Institutional Investors Weigh In On Vuzix

A number of institutional investors have recently modified their holdings of VUZI. SG Americas Securities LLC lifted its holdings in shares of Vuzix by 57.9% during the third quarter. SG Americas Securities LLC now owns 57,274 shares of the company’s stock valued at $208,000 after purchasing an additional 20,998 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Vuzix by 7.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 107,047 shares of the company’s stock valued at $389,000 after purchasing an additional 7,735 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Vuzix by 226.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 82,440 shares of the company’s stock valued at $299,000 after purchasing an additional 57,223 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in shares of Vuzix during the third quarter valued at $38,000. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of Vuzix by 6.4% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 359,359 shares of the company’s stock valued at $749,000 after purchasing an additional 21,650 shares in the last quarter. 35.87% of the stock is owned by hedge funds and other institutional investors.

Vuzix Company Profile

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, Europe, the Asia-Pacific, and internationally. It provides M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; Vuzix Shield smart glasses; Vuzix Ultralite smart glasses; and Mobilium logistics mobility software, which removes traditional middleware and supports various ERP systems, as well as custom and engineering solutions.