Vuzix (NASDAQ:VUZI) Issues Quarterly Earnings Results

Vuzix (NASDAQ:VUZI) issued its earnings results on Thursday. The company reported ($0.09) EPS for the quarter, FiscalAI reports. Vuzix had a negative net margin of 707.90% and a negative return on equity of 113.11%. The business had revenue of $1.16 million for the quarter.

Vuzix Stock Down 3.1%

NASDAQ:VUZI traded down $0.08 during mid-day trading on Friday, hitting $2.38. 965,075 shares of the company traded hands, compared to its average volume of 1,937,673. The stock’s fifty day moving average price is $3.18 and its 200-day moving average price is $2.69. Vuzix has a one year low of $0.85 and a one year high of $5.79. The firm has a market cap of $190.77 million, a price-to-earnings ratio of -4.68 and a beta of 1.66.

Institutional Investors Weigh In On Vuzix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of Vuzix by 278.1% in the first quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock worth $3,900,000 after purchasing an additional 1,406,234 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Vuzix during the 2nd quarter valued at $3,547,000. AIGH Capital Management LLC purchased a new position in Vuzix in the 3rd quarter worth approximately $2,813,000. Geode Capital Management LLC grew its stake in Vuzix by 101.7% during the second quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock valued at $4,439,000 after acquiring an additional 766,420 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Vuzix by 133.5% during the second quarter. Marshall Wace LLP now owns 1,149,107 shares of the company’s stock valued at $3,355,000 after buying an additional 657,041 shares during the last quarter. Institutional investors own 35.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VUZI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Vuzix in a research report on Wednesday, October 8th. Craig Hallum restated a “buy” rating on shares of Vuzix in a research note on Wednesday, October 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Vuzix Company Profile

Vuzix Corporation designs, manufactures, and markets smart glasses and augmented reality (AR) technologies and products for the enterprise, medical, defense, and consumer markets. The company’s products include head-mounted smart personal display and wearable computing devices that offer users a portable viewing experience, provide solutions for mobility, wearable displays, and augmented reality, as well as original equipment manufacturer waveguide optical components and display engines.