Vuzix (NASDAQ:VUZI) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Vuzix Corporation (NASDAQ:VUZI) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $3.07 and traded as high as $4.55. Vuzix shares last traded at $4.11, with a volume of 1,382,152 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Vuzix from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vuzix in a research report on Friday, April 17th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Vuzix presently has an average rating of “Hold”.

Vuzix Stock Performance

The firm has a market cap of $341.79 million, a P/E ratio of -10.27 and a beta of 1.68. The business’s 50-day simple moving average is $3.07 and its 200 day simple moving average is $2.90.

Vuzix (NASDAQ:VUZI) last posted its earnings results on Thursday, May 14th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Vuzix had a negative net margin of 504.12% and a negative return on equity of 116.50%. The business had revenue of $1.39 million during the quarter, compared to the consensus estimate of $1.35 million.

Insider Buying and Selling

In other Vuzix news, Director Paula Beck Whitten-Doolin sold 32,000 shares of Vuzix stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $4.68, for a total value of $149,760.00. Following the completion of the sale, the director owned 90,668 shares of the company’s stock, valued at approximately $424,326.24. The trade was a 26.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy Heydenreich Harned sold 10,000 shares of Vuzix stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $4.73, for a total transaction of $47,300.00. Following the completion of the sale, the director directly owned 318,158 shares of the company’s stock, valued at approximately $1,504,887.34. This trade represents a 3.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Vuzix

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in Vuzix by 373.7% in the 4th quarter. State Street Corp now owns 7,226,194 shares of the company’s stock worth $27,315,000 after purchasing an additional 5,700,613 shares during the period. Vanguard Group Inc. grew its position in Vuzix by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,631,584 shares of the company’s stock worth $11,367,000 after purchasing an additional 147,811 shares during the period. AIGH Capital Management LLC purchased a new position in shares of Vuzix during the 1st quarter worth $7,613,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of 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 worth $7,825,000 after acquiring an additional 848,142 shares during the last quarter. Finally, Millennium Management LLC boosted its stake 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 worth $3,900,000 after acquiring an additional 1,406,234 shares during the last quarter. Institutional investors own 35.87% of the company’s stock.

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.