Vuzix (NASDAQ:VUZI) Stock Dropped to Strong Sell by Wall Street Zen

Wall Street Zen cut shares of Vuzix (NASDAQ:VUZI) from a sell rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Vuzix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Vuzix has a consensus rating of “Sell”.

Vuzix Price Performance

Shares of VUZI traded down $0.49 during trading hours on Friday, hitting $1.35. The company’s stock had a trading volume of 3,983,975 shares, compared to its average volume of 954,147. The business has a 50 day simple moving average of $2.40 and a two-hundred day simple moving average of $2.69. Vuzix has a 52-week low of $1.30 and a 52-week high of $5.62. The company has a market cap of $113.95 million, a price-to-earnings ratio of -3.37 and a beta of 1.83.

Vuzix (NASDAQ:VUZI) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $0.71 million for the quarter, compared to analysts’ expectations of $1.30 million. Vuzix had a negative net margin of 580.50% and a negative return on equity of 136.27%.

Hedge Funds Weigh In On Vuzix

Several hedge funds have recently bought and sold shares of the company. StoneX Group Inc. purchased a new stake in Vuzix in the third quarter worth approximately $48,000. AXQ Capital LP bought a new position in Vuzix during the second quarter valued at approximately $77,000. Laidlaw Wealth Management LLC bought a new position in Vuzix during the first quarter valued at approximately $79,000. Squarepoint Ops LLC raised its stake in shares of Vuzix by 139.7% during the second quarter. Squarepoint Ops LLC now owns 98,919 shares of the company’s stock worth $287,000 after acquiring an additional 57,655 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Vuzix during the first quarter worth approximately $134,000. Hedge funds and other institutional investors own 35.87% of the company’s stock.

Vuzix Company Profile

Vuzix Corporation develops and sells wearable display technology, smart glasses and augmented reality products. Its offerings include smart glasses for hands-free work and remote assistance, as well as optical waveguides, display engines and related components for use in its own products and by other manufacturers. The company’s products are designed for applications across sectors such as manufacturing, logistics, healthcare and field service. Vuzix serves customers internationally through direct sales and distribution partners.