Vuzix (NASDAQ:VUZI) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Vuzix Corporation (NASDAQ:VUZI)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $2.70 and traded as high as $2.91. Vuzix shares last traded at $2.69, with a volume of 1,352,938 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VUZI shares. Wall Street Zen lowered shares of Vuzix from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings lowered shares of Vuzix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Vuzix Price Performance

The stock has a fifty day simple moving average of $2.70 and a two-hundred day simple moving average of $2.85. The firm has a market capitalization of $216.10 million, a P/E ratio of -6.56 and a beta of 1.75.

Vuzix (NASDAQ:VUZI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $1.50 million. Vuzix had a negative return on equity of 125.60% and a negative net margin of 519.11%.

Institutional Investors Weigh In On Vuzix

Several hedge funds and other institutional investors have recently bought and sold shares of VUZI. Squarepoint Ops LLC boosted its position in shares of Vuzix by 139.7% during the 2nd quarter. Squarepoint Ops LLC now owns 98,919 shares of the company’s stock worth $287,000 after purchasing an additional 57,655 shares in the last quarter. AXQ Capital LP bought a new stake in Vuzix in the 2nd quarter valued at about $77,000. Headlands Technologies LLC bought a new stake in Vuzix in the 2nd quarter valued at about $249,000. Bank of New York Mellon Corp acquired a new position in Vuzix during the 2nd quarter worth approximately $451,000. Finally, Alesco Advisors LLC An ESL Co raised its stake in Vuzix by 2,570.1% during the 1st quarter. Alesco Advisors LLC An ESL Co now owns 267,011 shares of the company’s stock worth $617,000 after buying an additional 257,011 shares during the period. 35.87% of the stock is owned by institutional investors.

Vuzix Company Profile

Vuzix Corporation (NASDAQ: VUZI) develops and sells smart glasses and augmented reality (AR) products for enterprise, industrial, defense, healthcare and consumer applications. Its technology combines wearable displays, cameras, computing components and software to deliver hands-free access to information and digital content.

The company’s product portfolio has included the M-Series of enterprise smart glasses, Blade smart glasses and Shield smart glasses, along with display and optical technologies based on its proprietary waveguide systems.