Mitsubishi UFJ Asset Management Co. Ltd. Acquires 848,142 Shares of Vuzix Corporation $VUZI

Key Points

• Mitsubishi UFJ Asset Management increased its Vuzix stake by 71.6% in the fourth quarter, adding 848,142 shares and bringing its total holding to 2,032,366 shares worth about $7.8 million.
• Institutional ownership remains significant, with hedge funds and other institutions holding about 35.87% of Vuzix stock overall.
• Analyst sentiment is mixed but cautious: Wall Street Zen raised Vuzix to hold, Weiss Ratings kept a sell rating, and the overall consensus is Hold.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Vuzix Corporation (NASDAQ:VUZI - Free Report) by 71.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,032,366 shares of the company's stock after buying an additional 848,142 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 2.54% of Vuzix worth $7,825,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Jump Financial LLC bought a new position in Vuzix in the second quarter valued at about $31,000. Quantbot Technologies LP acquired a new position in Vuzix during the third quarter worth about $36,000. Daiwa Securities Group Inc. bought a new position in shares of Vuzix in the second quarter worth about $52,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Vuzix in the 3rd quarter valued at approximately $53,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Vuzix in the 2nd quarter valued at approximately $67,000. 35.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VUZI has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Vuzix from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Vuzix in a research report on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Insiders Place Their Bets

In other Vuzix news, insider Christopher Iain Parkinson sold 11,663 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $2.69, for a total value of $31,373.47. Following the completion of the transaction, the insider directly owned 131,130 shares in the company, valued at approximately $352,739.70. This represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.30% of the stock is owned by insiders.

Vuzix Stock Performance

Vuzix stock opened at $3.11 on Monday. The stock has a 50-day moving average price of $2.49 and a two-hundred day moving average price of $2.79. Vuzix Corporation has a 12 month low of $1.83 and a 12 month high of $4.29. The company has a market capitalization of $258.63 million, a PE ratio of -7.40 and a beta of 1.52.

Vuzix (NASDAQ:VUZI - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $2.24 million for the quarter, compared to the consensus estimate of $1.92 million. Vuzix had a negative return on equity of 112.96% and a negative net margin of 513.82%.

Vuzix Company Profile

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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