Vuzix (NASDAQ:VUZI) Stock Price Breaks Above Fifty Day Moving Average - Here's What Happened

Key Points

• Vuzix shares briefly moved above their 50-day moving average of $2.70, reaching $2.91 before last trading at $2.69 on volume of about 1.35 million shares. The stock was reported as down 8.2% in trading.
• Analyst sentiment remains negative: Wall Street Zen and Weiss Ratings downgraded the stock, and MarketBeat reported a consensus rating of “Sell.”
• Vuzix beat quarterly EPS expectations with a loss of $0.09 versus an expected loss of $0.11, but revenue of $1.11 million missed the $1.50 million estimate. The company reported a negative net margin of 519.11% and negative return on equity of 125.60%.

Shares of Vuzix Corporation (NASDAQ:VUZI - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $2.70 and traded as high as $2.91. Vuzix shares last traded at $2.69, with a volume of 1,352,938 shares changing hands.

Analyst Upgrades and Downgrades

VUZI has been the subject of several research reports. Wall Street Zen lowered shares of Vuzix from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Weiss Ratings downgraded shares of Vuzix from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell".

Vuzix Trading Down 8.2%

The stock's 50 day moving average is $2.70 and its 200-day moving average is $2.85. The company has a market cap of $227.06 million, a P/E ratio of -6.90 and a beta of 1.75.

Vuzix (NASDAQ:VUZI - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $1.11 million during the quarter, compared to analysts' expectations of $1.50 million. Vuzix had a negative net margin of 519.11% and a negative return on equity of 125.60%.

Institutional Trading of Vuzix

Several institutional investors have recently added to or reduced their stakes in the business. Independent Wealth Network Inc. purchased a new stake in shares of Vuzix during the first quarter valued at $31,000. Caitong International Asset Management Co. Ltd lifted its stake in Vuzix by 424.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,493 shares of the company's stock valued at $36,000 after acquiring an additional 7,682 shares during the period. AXQ Capital LP purchased a new stake in shares of Vuzix during the 2nd quarter valued at about $77,000. Laidlaw Wealth Management LLC bought a new stake in shares of Vuzix in the first quarter worth approximately $79,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Vuzix in the first quarter worth approximately $134,000. 35.87% of the stock is currently owned by hedge funds and other institutional investors.

Vuzix Company Profile

Vuzix Corporation NASDAQ: VUZI develops and sells smart glasses and augmented reality (AR) products for enterprise, industrial, defense, healthcare and consumer applications. Its technology combines wearable displays, cameras, computing components and software to deliver hands-free access to information and digital content.

The company's product portfolio has included the M-Series of enterprise smart glasses, Blade smart glasses and Shield smart glasses, along with display and optical technologies based on its proprietary waveguide systems.

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