Vuzix (NASDAQ:VUZI) Trading Down 5.1% Following Weak Earnings

Vuzix Corp (NASDAQ:VUZI) shares were down 5.1% on Friday following a dissappointing earnings announcement. The company traded as low as $1.77 and last traded at $1.86, approximately 640,587 shares were traded during mid-day trading. An increase of 17% from the average daily volume of 547,946 shares. The stock had previously closed at $1.96.

The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $2.19 million for the quarter. Vuzix had a negative return on equity of 68.94% and a negative net margin of 288.62%.

A number of analysts have recently commented on VUZI shares. Zacks Investment Research upgraded Vuzix from a “sell” rating to a “hold” rating in a report on Sunday, July 14th. ValuEngine upgraded Vuzix from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Chardan Capital restated a “buy” rating and set a $10.00 price objective on shares of Vuzix in a report on Tuesday, July 2nd.

Several hedge funds have recently added to or reduced their stakes in VUZI. Geode Capital Management LLC increased its stake in Vuzix by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 252,865 shares of the company’s stock worth $1,216,000 after acquiring an additional 11,775 shares during the last quarter. Bank of America Corp DE increased its stake in Vuzix by 59.9% during the fourth quarter. Bank of America Corp DE now owns 23,417 shares of the company’s stock worth $112,000 after acquiring an additional 8,773 shares during the last quarter. Taylor Frigon Capital Management LLC grew its stake in shares of Vuzix by 32.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 471,426 shares of the company’s stock valued at $1,443,000 after buying an additional 116,335 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Vuzix by 16,307.6% in the first quarter. Bank of Montreal Can now owns 54,309 shares of the company’s stock valued at $166,000 after buying an additional 53,978 shares in the last quarter. Finally, B. Riley Wealth Management Inc. acquired a new stake in shares of Vuzix in the first quarter valued at $35,000. Institutional investors and hedge funds own 22.20% of the company’s stock.

The company has a quick ratio of 3.23, a current ratio of 5.50 and a debt-to-equity ratio of 0.01. The firm’s 50 day simple moving average is $2.87. The stock has a market capitalization of $54.10 million, a price-to-earnings ratio of -2.19 and a beta of 1.45.

About Vuzix (NASDAQ:VUZI)

Vuzix Corporation designs, manufactures, markets, and sells augmented reality (AR) wearable display devices in North America, the Asia-Pacific, Europe, and internationally. The company offers its products in the form of smart glasses and AR glasses. Its products include monocular smart glasses for enterprise, industrial, commercial, and medical markets; and blade smart sunglasses for applications ranging from basic text messaging and answering the phone to overlaying mapping directions, menus, weather, events, stock quotes, video conferencing, sports updates, social feeds, bio-metrics, and others.

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