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

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

Vuzix Trading Down 2.3%

NASDAQ VUZI opened at $2.55 on Friday. Vuzix has a 1 year low of $1.47 and a 1 year high of $4.29. The company has a market cap of $204.33 million, a PE ratio of -5.54 and a beta of 1.40. The stock’s 50-day moving average price is $2.96 and its two-hundred day moving average price is $2.92.

Insider Activity at Vuzix

In related news, insider Christopher Iain Parkinson sold 11,663 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $2.69, for a total value of $31,373.47. Following the completion of the sale, the insider owned 131,130 shares in the company, valued at approximately $352,739.70. This represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Vuzix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in shares of Vuzix in the second quarter valued at $31,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Vuzix by 424.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,493 shares of the company’s stock worth $36,000 after buying an additional 7,682 shares during the period. Quantbot Technologies LP purchased a new position in shares of Vuzix during the third quarter valued at $36,000. State of Wyoming purchased a new position in shares of Vuzix during the fourth quarter valued at $38,000. Finally, Insigneo Advisory Services LLC acquired a new position in Vuzix during the fourth quarter valued at $41,000. 35.87% of the stock is currently owned by hedge funds and other 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.