Vuzix (VUZI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Vuzix (NASDAQ:VUZI) from a buy rating to a hold rating in a research report released on Sunday morning.

According to Zacks, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York. “

Several other research firms also recently weighed in on VUZI. Chardan Capital set a $10.00 price target on shares of Vuzix and gave the stock a buy rating in a research note on Tuesday, December 26th. Craig Hallum started coverage on shares of Vuzix in a research note on Monday, January 8th. They issued a buy rating on the stock.

Vuzix (NASDAQ VUZI) traded down $0.15 on Friday, reaching $8.40. 539,600 shares of the company’s stock traded hands, compared to its average volume of 1,255,192. The stock has a market capitalization of $203.87, a P/E ratio of -7.64 and a beta of 1.16. Vuzix has a fifty-two week low of $4.10 and a fifty-two week high of $9.55.

Vuzix (NASDAQ:VUZI) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.28) earnings per share (EPS) for the quarter. Vuzix had a negative net margin of 440.45% and a negative return on equity of 134.55%. analysts forecast that Vuzix will post -0.89 earnings per share for the current year.

In other Vuzix news, COO Paul A. Boris purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were purchased at an average cost of $5.74 per share, with a total value of $28,700.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward William Jr. Kay purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $5.95 per share, for a total transaction of $59,500.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 17,500 shares of company stock worth $103,225. Insiders own 18.40% of the company’s stock.

Several large investors have recently bought and sold shares of VUZI. ETF Managers Group LLC acquired a new stake in Vuzix during the second quarter worth about $236,000. GSA Capital Partners LLP increased its position in Vuzix by 261.3% during the second quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock worth $251,000 after purchasing an additional 27,700 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Vuzix by 15.0% during the second quarter. Vanguard Group Inc. now owns 646,120 shares of the company’s stock worth $4,232,000 after purchasing an additional 84,127 shares during the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

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About Vuzix

Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The company’s products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games. Its products include binocular wearable displays that contain two micro displays mounted in a frame attached to eyeglass-style temples or stereo headphones; monocular smart glasses products for the enterprise, industrial, and commercial markets, as well as video headphones; augmented reality products, which provide the user a live, direct or indirect, view of a physical, and real-world environment; and video viewing glasses as mobile displays for entertainment and gaming for on-the-go users, as well as support for stepping into virtual worlds, simulations, and virtual reality gaming.

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