Vuzix (NASDAQ:VUZI) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of Vuzix Corporation (NASDAQ:VUZI) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.93 and traded as low as $2.13. Vuzix shares last traded at $2.31, with a volume of 1,010,648 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Vuzix from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Vuzix Price Performance

The company has a market cap of $192.10 million, a P/E ratio of -5.50 and a beta of 1.40. The firm’s 50-day moving average is $2.57 and its two-hundred day moving average is $2.93.

Vuzix (NASDAQ:VUZI) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Vuzix had a negative net margin of 513.82% and a negative return on equity of 112.96%. The business had revenue of $2.24 million for the quarter, compared to the consensus estimate of $1.92 million.

Insider Activity at Vuzix

In related news, insider Christopher Iain Parkinson sold 11,663 shares of Vuzix stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $2.69, for a total value of $31,373.47. Following the completion of the transaction, the insider owned 131,130 shares in the company, valued at approximately $352,739.70. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Vuzix

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Vuzix by 373.7% in the 4th quarter. State Street Corp now owns 7,226,194 shares of the company’s stock valued at $27,315,000 after purchasing an additional 5,700,613 shares during the last quarter. Millennium Management LLC increased its position in shares of Vuzix by 278.1% during the 1st quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock valued at $3,900,000 after purchasing an additional 1,406,234 shares during the last quarter. AIGH Capital Management LLC bought a new position in shares of Vuzix during the 3rd quarter valued at approximately $2,813,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Vuzix by 71.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock valued at $7,825,000 after buying an additional 848,142 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Vuzix by 101.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock valued at $4,439,000 after buying an additional 766,420 shares during the period. 35.87% of the stock is owned by institutional investors.

Vuzix Company Profile

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.