Vuzix (NASDAQ:VUZI) Posts 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) announced its quarterly earnings results on Thursday. The company reported ($0.10) EPS for the quarter, Zacks reports. Vuzix had a negative net margin of 1,352.74% and a negative return on equity of 198.84%.

Vuzix Stock Down 5.2%

Shares of VUZI traded down $0.12 during midday trading on Thursday, reaching $2.20. 1,120,154 shares of the stock were exchanged, compared to its average volume of 1,800,943. Vuzix has a twelve month low of $0.83 and a twelve month high of $5.79. The stock's 50 day simple moving average is $2.57 and its 200 day simple moving average is $2.60. The company has a market cap of $167.73 million, a P/E ratio of -2.14 and a beta of 1.40.

Institutional Trading of Vuzix

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake 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 valued at $3,900,000 after buying an additional 1,406,234 shares during the period. Geode Capital Management LLC lifted its position in shares of Vuzix by 101.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company's stock valued at $4,439,000 after acquiring an additional 766,420 shares during the period. Marshall Wace LLP grew its holdings in shares of Vuzix by 133.5% during the 2nd quarter. Marshall Wace LLP now owns 1,149,107 shares of the company's stock worth $3,355,000 after purchasing an additional 657,041 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Vuzix in the second quarter worth $1,274,000. Finally, Goldman Sachs Group Inc. raised its stake in Vuzix by 59.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,900 shares of the company's stock valued at $885,000 after purchasing an additional 162,229 shares in the last quarter. Institutional investors own 35.87% of the company's stock.

Vuzix Company Profile

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.

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