Vuzix (NASDAQ:VUZI) Stock Breaks Above 50-Day Moving Average - Here's Why

Key Points

• Vuzix shares crossed above their 50-day moving average, reaching $2.93 before closing at $2.77, although the stock was reported down 5.8% and remained below its 200-day moving average of $2.82.
• Analyst sentiment is cautious: Weiss Ratings and Wall Street Zen downgraded the stock to “sell,” while the broader analyst consensus remains “Hold.”
• Vuzix beat quarterly EPS expectations with a loss of $0.09 versus an expected loss of $0.11, but revenue of $1.11 million fell short of the $1.50 million consensus estimate; institutional investors own 35.87% of the company.

Vuzix Corporation (NASDAQ:VUZI - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $2.62 and traded as high as $2.93. Vuzix shares last traded at $2.77, with a volume of 587,349 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on VUZI shares. Weiss Ratings lowered shares of Vuzix from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 28th. Wall Street Zen downgraded shares of Vuzix from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Vuzix Trading Down 5.8%

The stock has a 50 day moving average of $2.62 and a 200-day moving average of $2.82. The stock has a market capitalization of $233.82 million, a P/E ratio of -7.10 and a beta of 1.81.

Vuzix (NASDAQ:VUZI - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. Vuzix had a negative return on equity of 125.60% and a negative net margin of 519.11%.The company had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.50 million.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VUZI. Squarepoint Ops LLC boosted its position in Vuzix by 139.7% in the 2nd quarter. Squarepoint Ops LLC now owns 98,919 shares of the company's stock valued at $287,000 after buying an additional 57,655 shares during the period. AXQ Capital LP purchased a new position in shares of Vuzix during the second quarter worth approximately $77,000. Headlands Technologies LLC purchased a new stake in shares of Vuzix in the second quarter valued at approximately $249,000. Bank of New York Mellon Corp bought a new position in Vuzix in the second quarter worth approximately $451,000. Finally, Alesco Advisors LLC An ESL Co raised its position in Vuzix by 2,570.1% during the 1st quarter. Alesco Advisors LLC An ESL Co now owns 267,011 shares of the company's stock valued at $617,000 after purchasing an additional 257,011 shares in the last quarter. Hedge funds and other institutional investors own 35.87% of the company's stock.

Vuzix Company Profile

Vuzix Corporation is a technology company that designs, manufactures and sells smart glasses and augmented reality (AR) products. Its solutions combine wearable displays, cameras, audio, computing components and software to provide users with hands-free access to digital information and remote collaboration tools.

The company's product portfolio has included the Vuzix M-Series and Shield smart glasses, as well as the Vuzix Blade line. Vuzix also develops proprietary waveguide optics and related display technologies that support lightweight, see-through augmented reality devices.

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