Vuzix (NASDAQ:VUZI) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Vuzix to a "sell", trimming its rating from "hold" and coinciding with the stock trading around $2.55 and slipping about 2.3%.
• Insider sale: Director Christopher Iain Parkinson sold 11,663 shares at an average $2.69 (an 8.17% reduction in his position); insiders overall own about 8.30% of the company.
• Big institutional moves: State Street boosted its stake by 373.7% to 7.23 million shares and other funds (Millennium, Mitsubishi UFJ, Geode) also increased positions, leaving institutions/hedge funds owning roughly 35.87% of Vuzix.

Vuzix (NASDAQ:VUZI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Vuzix Stock Down 2.3%

NASDAQ VUZI opened at $2.55 on Friday. Vuzix has a 52 week low of $1.47 and a 52 week high of $4.29. The firm has a 50 day moving average of $2.96 and a two-hundred day moving average of $2.90. The stock has a market capitalization of $204.33 million, a PE ratio of -5.54 and a beta of 1.40.

Insiders Place Their Bets

In other news, insider Christopher Iain Parkinson sold 11,663 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $2.69, for a total transaction of $31,373.47. Following the completion of the transaction, the insider directly owned 131,130 shares of the company's stock, valued at approximately $352,739.70. This represents a 8.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vuzix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Vuzix by 373.7% in the fourth quarter. State Street Corp now owns 7,226,194 shares of the company's stock valued at $27,315,000 after purchasing an additional 5,700,613 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Vuzix by 278.1% in the 1st quarter. Millennium Management LLC now owns 1,911,972 shares of the company's stock valued at $3,900,000 after buying an additional 1,406,234 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Vuzix in the 2nd quarter valued at $3,547,000. AIGH Capital Management LLC purchased a new position in shares of Vuzix in the 3rd quarter valued at $2,813,000. Finally, Geode Capital Management LLC raised its stake in Vuzix by 101.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company's stock worth $4,439,000 after acquiring an additional 766,420 shares in the last quarter. 35.87% of the stock is owned by institutional investors and hedge funds.

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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