Timothy Heydenreich Harned Sells 10,000 Shares of Vuzix (NASDAQ:VUZI) Stock

Vuzix Corporation (NASDAQ:VUZI) Director Timothy Heydenreich Harned sold 10,000 shares of the firm’s 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 transaction, the director directly owned 318,158 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is accessible through this link.

Vuzix Stock Up 9.4%

Shares of VUZI opened at $5.14 on Friday. The stock has a market capitalization of $427.44 million, a P/E ratio of -12.85 and a beta of 1.52. Vuzix Corporation has a twelve month low of $1.83 and a twelve month high of $5.62. The company has a 50 day moving average of $2.70 and a 200-day moving average of $2.80.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings results 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 during 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%.

Hedge Funds Weigh In On Vuzix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Vuzix by 373.7% in the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock valued at $27,315,000 after buying an additional 5,700,613 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Vuzix by 4.2% in the third quarter. Vanguard Group Inc. now owns 3,631,584 shares of the company’s stock valued at $11,367,000 after buying an additional 147,811 shares in the last quarter. AIGH Capital Management LLC bought a new position in Vuzix during the first quarter worth $7,613,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Vuzix by 71.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock worth $7,825,000 after purchasing an additional 848,142 shares during the period. Finally, 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 worth $3,900,000 after purchasing an additional 1,406,234 shares during the period. 35.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on VUZI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Vuzix in a research note on Friday, April 17th. Wall Street Zen cut shares of Vuzix from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Vuzix presently has a consensus rating of “Hold”.

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.