AIGH Capital Management LLC Purchases Shares of 3,295,754 Vuzix Corporation $VUZI

Key Points

• AIGH Capital Management bought a new stake in Vuzix during the first quarter, purchasing 3,295,754 shares worth about $7.6 million. The position represents roughly 3.96% of Vuzix and about 1.0% of AIGH’s portfolio.
• Other institutions also adjusted their holdings, with Mitsubishi UFJ Asset Management increasing its stake significantly and several others initiating new positions. Institutional investors now own about 35.87% of Vuzix, while insiders hold 7.30%.
• Recent insider activity was mixed, as two directors sold shares in May. Vuzix also reported a smaller-than-expected quarterly loss and revenue above estimates, while Wall Street’s consensus rating remains Hold.

AIGH Capital Management LLC purchased a new position in shares of Vuzix Corporation (NASDAQ:VUZI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,295,754 shares of the company's stock, valued at approximately $7,613,000. Vuzix comprises about 1.0% of AIGH Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. AIGH Capital Management LLC owned about 3.96% of Vuzix at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VUZI. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Vuzix by 71.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company's stock valued at $7,825,000 after buying an additional 848,142 shares in the last quarter. Apis Capital Advisors LLC bought a new stake in Vuzix during the third quarter worth $2,060,000. Brookwood Investment Group LLC bought a new stake in Vuzix during the fourth quarter worth $195,000. Stonebridge Financial Group LLC acquired a new stake in Vuzix in the fourth quarter valued at $81,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Vuzix in the second quarter valued at $67,000. Institutional investors own 35.87% of the company's stock.

Insider Buying and Selling

In other Vuzix news, Director Paula Beck Whitten-Doolin sold 32,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $4.68, for a total transaction of $149,760.00. Following the transaction, the director owned 90,668 shares in the company, valued at $424,326.24. This trade represents a 26.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy Heydenreich Harned sold 10,000 shares of Vuzix stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $4.73, for a total value of $47,300.00. Following the completion of the transaction, the director directly owned 318,158 shares of the company's stock, valued at $1,504,887.34. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 7.30% of the company's stock.

Vuzix Price Performance

VUZI stock opened at $2.40 on Thursday. The stock has a market capitalization of $199.58 million, a price-to-earnings ratio of -6.00 and a beta of 1.74. The business's fifty day moving average price is $3.39 and its two-hundred day moving average price is $2.98. Vuzix Corporation has a fifty-two week low of $1.83 and a fifty-two week high of $5.62.

Vuzix (NASDAQ:VUZI - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. Vuzix had a negative return on equity of 116.50% and a negative net margin of 504.12%.The company had revenue of $1.39 million during the quarter, compared to the consensus estimate of $1.35 million.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VUZI shares. Wall Street Zen upgraded shares of Vuzix from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vuzix in a research note on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vuzix currently has an average rating of "Hold".

About Vuzix

Vuzix Corporation NASDAQ: VUZI is a technology company specializing in the design, development and manufacture of wearable display devices and smart glasses. Headquartered in Rochester, New York, Vuzix focuses on next-generation augmented reality (AR) and virtual reality (VR) solutions that enable hands-free access to video, data and applications. Its products integrate high-resolution optics, onboard sensors and wireless connectivity to support immersive visual experiences for professional and consumer use.

Vuzix's product portfolio includes smart glasses and head-mounted displays such as the Vuzix Blade series and the M400 family.

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