Mirae Asset Global Investments Co. Ltd. Decreases Stock Position in Vuzix Co. (NASDAQ:VUZI)

Mirae Asset Global Investments Co. Ltd. cut its stake in Vuzix Co. (NASDAQ:VUZI) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 213,321 shares of the company’s stock after selling 36,825 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.34% of Vuzix worth $445,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Taylor Frigon Capital Management LLC grew its position in shares of Vuzix by 2.2% in the third quarter. Taylor Frigon Capital Management LLC now owns 337,709 shares of the company’s stock valued at $1,226,000 after purchasing an additional 7,250 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Vuzix by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 219,325 shares of the company’s stock valued at $796,000 after purchasing an additional 11,079 shares in the last quarter. Redmond Asset Management LLC grew its position in shares of Vuzix by 77.4% in the third quarter. Redmond Asset Management LLC now owns 123,443 shares of the company’s stock valued at $448,000 after purchasing an additional 53,851 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Vuzix by 7.8% in 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. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Vuzix by 226.9% in 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. 35.87% of the stock is currently owned by hedge funds and other institutional investors.

Vuzix Stock Down 1.5 %

Vuzix stock opened at $1.32 on Friday. Vuzix Co. has a 52 week low of $1.10 and a 52 week high of $6.06. The business has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $2.00. The stock has a market cap of $85.43 million, a price-to-earnings ratio of -1.67 and a beta of 1.86.

Vuzix (NASDAQ:VUZI) last posted its earnings results on Monday, April 15th. The company reported ($0.32) EPS for the quarter. Vuzix had a negative return on equity of 51.52% and a negative net margin of 413.47%. The business had revenue of $1.07 million for the quarter.

Insider Buying and Selling

In other Vuzix news, Director Timothy Heydenreich Harned bought 20,000 shares of Vuzix stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average cost of $1.31 per share, for a total transaction of $26,200.00. Following the completion of the transaction, the director now directly owns 186,016 shares in the company, valued at $243,680.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 42,000 shares of company stock worth $54,375 over the last ninety days. 8.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Craig Hallum reduced their price target on Vuzix from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th.

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.