Vuzix (NASDAQ:VUZI) Stock Crosses Below 200-Day Moving Average – What’s Next?

Shares of Vuzix Corporation (NASDAQ:VUZI) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.99 and traded as low as $2.75. Vuzix shares last traded at $2.77, with a volume of 669,160 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on VUZI shares. Wall Street Zen raised Vuzix from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Vuzix Price Performance

The company has a market cap of $230.35 million, a price-to-earnings ratio of -6.92 and a beta of 1.74. The business’s fifty day moving average price is $3.37 and its 200 day moving average price is $2.99.

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

Insider Activity

In other news, Director Timothy Heydenreich Harned sold 10,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $4.73, for a total value of $47,300.00. Following the completion of the sale, the director owned 318,158 shares of the company’s stock, valued at approximately $1,504,887.34. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paula Beck Whitten-Doolin sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $4.68, for a total value of $149,760.00. Following the transaction, the director owned 90,668 shares of the company’s stock, valued at $424,326.24. This trade represents a 26.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VUZI. State Street Corp increased its position in shares of Vuzix by 373.7% during the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock worth $27,315,000 after buying an additional 5,700,613 shares during the period. AIGH Capital Management LLC acquired a new position in Vuzix in the first quarter valued at $7,613,000. Millennium Management LLC boosted its position in Vuzix by 278.1% during the first quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock valued at $3,900,000 after acquiring an additional 1,406,234 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 worth $7,825,000 after acquiring an additional 848,142 shares during the period. Finally, Geode Capital Management LLC grew 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 worth $4,439,000 after acquiring an additional 766,420 shares during the period. Institutional investors own 35.87% of the company’s stock.

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.