Zacks Investment Research upgraded shares of Vuzix Corporation (NASDAQ:VUZI) from a hold rating to a buy rating in a research report sent to investors on Thursday. They currently have $7.00 price target on the stock.

According to Zacks, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York. “

Separately, Maxim Group reiterated a buy rating and issued a $11.00 price target on shares of Vuzix Corporation in a research note on Wednesday, September 6th.

Shares of Vuzix Corporation (NASDAQ VUZI) opened at 6.15 on Thursday. The company’s market cap is $127.15 million. The stock’s 50 day moving average price is $6.03 and its 200-day moving average price is $6.16. Vuzix Corporation has a 52-week low of $5.00 and a 52-week high of $9.50.

Vuzix Corporation (NASDAQ:VUZI) last issued its earnings results on Wednesday, August 9th. The company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.01). The business had revenue of $1.33 million during the quarter. Vuzix Corporation had a negative net margin of 524.82% and a negative return on equity of 143.10%. Equities analysts expect that Vuzix Corporation will post ($0.76) EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/09/17/vuzix-corporation-vuzi-upgraded-at-zacks-investment-research.html.

In other news, COO Paul A. Boris purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was bought at an average cost of $6.10 per share, for a total transaction of $61,000.00. Following the purchase, the chief operating officer now owns 160,000 shares of the company’s stock, valued at $976,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 22.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Carl Domino Inc lifted its stake in shares of Vuzix Corporation by 11.4% in the 2nd quarter. Carl Domino Inc now owns 39,000 shares of the company’s stock valued at $255,000 after acquiring an additional 4,000 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Vuzix Corporation in the 1st quarter valued at $108,000. GSA Capital Partners LLP lifted its stake in shares of Vuzix Corporation by 261.3% in the 2nd quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock valued at $251,000 after acquiring an additional 27,700 shares during the last quarter. ETF Managers Group LLC bought a new position in shares of Vuzix Corporation in the 2nd quarter valued at $236,000. Finally, KCG Holdings Inc. bought a new position in shares of Vuzix Corporation in the 1st quarter valued at $243,000. Institutional investors own 8.60% of the company’s stock.

About Vuzix Corporation

Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The company’s products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games. Its products include binocular wearable displays that contain two micro displays mounted in a frame attached to eyeglass-style temples or stereo headphones; monocular smart glasses products for the enterprise, industrial, and commercial markets, as well as video headphones; augmented reality products, which provide the user a live, direct or indirect, view of a physical, and real-world environment; and video viewing glasses as mobile displays for entertainment and gaming for on-the-go users, as well as support for stepping into virtual worlds, simulations, and virtual reality gaming.

Get a free copy of the Zacks research report on Vuzix Corporation (VUZI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Vuzix Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vuzix Corporation and related stocks with our FREE daily email newsletter.