Vuzix (NASDAQ:VUZI) Shares Pass Above 50-Day Moving Average – Here’s Why

Vuzix Corporation (NASDAQ:VUZI)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.91 and traded as high as $3.64. Vuzix shares last traded at $3.23, with a volume of 2,334,107 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VUZI shares. Craig Hallum reissued a “buy” rating on shares of Vuzix in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Vuzix in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Vuzix from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Vuzix Trading Down 8.0%

The company has a market capitalization of $258.82 million, a P/E ratio of -7.02 and a beta of 1.47. The company’s 50 day moving average is $2.91 and its 200-day moving average is $2.78.

Vuzix (NASDAQ:VUZI) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Vuzix had a negative net margin of 702.71% and a negative return on equity of 117.63%. The business had revenue of $1.16 million for the quarter, compared to analyst estimates of $1.92 million.

Insider Buying and Selling at Vuzix

In related news, insider Christopher Iain Parkinson sold 9,457 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $2.92, for a total transaction of $27,614.44. Following the completion of the transaction, the insider owned 142,793 shares of the company’s stock, valued at $416,955.56. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Vuzix

Several hedge funds have recently added to or reduced their stakes in VUZI. Jump Financial LLC bought a new position in shares of Vuzix during the second quarter valued at $31,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Vuzix during the 2nd quarter valued at about $32,000. Quantbot Technologies LP bought a new stake in Vuzix during the 3rd quarter valued at about $36,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Vuzix during the 2nd quarter valued at about $44,000. Finally, Daiwa Securities Group Inc. purchased a new position in Vuzix in the second quarter worth about $52,000. 35.87% of the stock is owned by institutional investors.

About Vuzix

Vuzix Corporation (NASDAQ: VUZI) is a technology company specializing in the design, development and manufacture of wearable display devices and smart glasses. Headquartered in Rochester, New York, Vuzix focuses on next-generation augmented reality (AR) and virtual reality (VR) solutions that enable hands-free access to video, data and applications. Its products integrate high-resolution optics, onboard sensors and wireless connectivity to support immersive visual experiences for professional and consumer use.

Vuzix’s product portfolio includes smart glasses and head-mounted displays such as the Vuzix Blade series and the M400 family.