Vuzix (NASDAQ:VUZI) Lowered to Sell Rating by Wall Street Zen

Vuzix (NASDAQ:VUZI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Vuzix Stock Performance

Shares of NASDAQ VUZI opened at $2.53 on Friday. Vuzix has a 1 year low of $1.47 and a 1 year high of $4.82. The firm’s 50 day moving average price is $3.05 and its 200 day moving average price is $2.83. The firm has a market cap of $202.73 million, a P/E ratio of -5.50 and a beta of 1.51.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Vuzix had a negative return on equity of 117.63% and a negative net margin of 702.71%.The company had revenue of $1.16 million during the quarter, compared to the consensus estimate of $1.92 million.

Insider Transactions at Vuzix

In other news, insider Christopher Iain Parkinson sold 9,457 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were 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 represents a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Vuzix

Several hedge funds have recently modified their holdings of VUZI. Formula Growth Ltd. purchased a new stake in Vuzix in the fourth quarter valued at approximately $1,247,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Vuzix by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 221,699 shares of the company’s stock worth $838,000 after purchasing an additional 11,916 shares in the last quarter. State Street Corp lifted its position in Vuzix by 373.7% during the 4th quarter. State Street Corp now owns 7,226,194 shares of the company’s stock worth $27,315,000 after acquiring an additional 5,700,613 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Vuzix by 84.3% during the fourth quarter. Wells Fargo & Company MN now owns 74,545 shares of the company’s stock worth $282,000 after purchasing an additional 34,094 shares in the last quarter. Finally, Insigneo Advisory Services LLC purchased a new position in Vuzix in the 4th quarter valued at about $41,000. 35.87% of the stock is owned by institutional investors and hedge funds.

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.