Vuzix (NASDAQ:VUZI) Issues Earnings Results

Key Points

• Vuzix reported a quarterly earnings loss with an EPS of (0.10), a negative net margin of 1,352.74%, and a negative return on equity of 198.84%.
• The company's shares dropped 5.2% to $2.20 during midday trading, with a twelve-month low of $0.83 and a high of $5.79.
• Institutional investors have heavily increased their stakes, with Millennium Management LLC boosting its position by 278.1% in the first quarter.

Vuzix (NASDAQ:VUZI - Get Free Report) posted its earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02, Zacks reports. The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $1.63 million. Vuzix had a negative return on equity of 113.11% and a negative net margin of 707.90%.

Vuzix Price Performance

Shares of NASDAQ:VUZI traded down $0.09 during trading on Tuesday, hitting $1.90. 1,450,399 shares of the company were exchanged, compared to its average volume of 1,403,394. The company has a market cap of $146.95 million, a PE ratio of -3.73 and a beta of 1.40. The stock has a 50 day moving average of $2.49 and a 200 day moving average of $2.55. Vuzix has a 52-week low of $0.8311 and a 52-week high of $5.7882.

Institutional Investors Weigh In On Vuzix

Several institutional investors have recently made changes to their positions in VUZI. Millennium Management LLC raised its position in shares of Vuzix by 278.1% in the first quarter. Millennium Management LLC now owns 1,911,972 shares of the company's stock worth $3,900,000 after buying an additional 1,406,234 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Vuzix by 59.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,900 shares of the company's stock worth $885,000 after buying an additional 162,229 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Vuzix by 101.7% in the second quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company's stock worth $4,439,000 after buying an additional 766,420 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Vuzix in the second quarter worth $1,274,000. Finally, Rhumbline Advisers purchased a new stake in shares of Vuzix in the second quarter worth $269,000. Hedge funds and other institutional investors own 35.87% of the company's stock.

About Vuzix

Vuzix Corporation designs, manufactures, and markets smart glasses and augmented reality (AR) technologies and products for the enterprise, medical, defense, and consumer markets. The company's products include head-mounted smart personal display and wearable computing devices that offer users a portable viewing experience, provide solutions for mobility, wearable displays, and augmented reality, as well as original equipment manufacturer waveguide optical components and display engines.