Vuzix (VUZI) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Vuzix (NASDAQ:VUZI) posted its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01, Fidelity Earnings reports. The business had revenue of $1.92 million during the quarter. Vuzix had a negative net margin of 318.25% and a negative return on equity of 74.46%.

Vuzix stock traded down $0.09 during mid-day trading on Friday, reaching $6.05. The company had a trading volume of 313,934 shares, compared to its average volume of 521,507. Vuzix has a 52 week low of $4.90 and a 52 week high of $11.40. The company has a market cap of $165.11 million, a PE ratio of -5.93 and a beta of 1.05.

Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its holdings in Vuzix by 60.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 19,300 shares of the company’s stock valued at $144,000 after purchasing an additional 7,300 shares during the period. Rhumbline Advisers bought a new stake in Vuzix in the 2nd quarter valued at $146,000. Belpointe Asset Management LLC bought a new stake in Vuzix in the 2nd quarter valued at $242,000. PEAK6 Investments L.P. bought a new stake in Vuzix in the 2nd quarter valued at $381,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Vuzix in the 2nd quarter valued at $386,000. 19.78% of the stock is owned by hedge funds and other institutional investors.

VUZI has been the subject of several recent analyst reports. Chardan Capital set a $10.00 price objective on shares of Vuzix and gave the stock a “buy” rating in a report on Friday, August 10th. ValuEngine raised shares of Vuzix from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Zacks Investment Research downgraded shares of Vuzix from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. Finally, Maxim Group reaffirmed a “buy” rating on shares of Vuzix in a report on Friday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Vuzix presently has a consensus rating of “Buy” and an average price target of $9.08.

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About Vuzix

Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. Its wearable display products include augmented reality (AR) smart glasses for various enterprise and commercial users and applications; and video viewing glasses for on-the-go users as mobile displays for entertainment and gaming.

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Earnings History for Vuzix (NASDAQ:VUZI)

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