Vuzix (NASDAQ:VUZI) Releases Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Vuzix reported EPS of ($0.12), missing estimates by $0.03 while revenue of $2.24M beat expectations; the company remains deeply unprofitable with a net margin of -702.71% and negative return on equity.
• Shares fell to $2.55 on the report and trade below their 50- and 200-day moving averages, and Wall Street Zen recently downgraded the stock from "hold" to "sell" (MarketBeat consensus remains "Hold").
• An insider sold 11,663 shares (an 8.17% reduction in his position) while institutional investors increased exposure—most notably State Street, which boosted its stake by 373.7% to about 7.23M shares—leaving institutions with roughly 35.9% ownership.

Vuzix (NASDAQ:VUZI - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03), FiscalAI reports. The firm had revenue of $2.24 million for the quarter, compared to the consensus estimate of $1.92 million. Vuzix had a negative return on equity of 117.63% and a negative net margin of 702.71%.

Vuzix Stock Performance

Shares of VUZI traded down $0.04 during mid-day trading on Thursday, hitting $2.55. The company's stock had a trading volume of 800,756 shares, compared to its average volume of 1,239,361. The stock's 50-day moving average is $2.89 and its two-hundred day moving average is $2.92. The firm has a market capitalization of $204.33 million, a PE ratio of -5.54 and a beta of 1.40. Vuzix has a one year low of $1.47 and a one year high of $4.29.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Vuzix from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold".

Insider Transactions at Vuzix

In related news, insider Christopher Iain Parkinson sold 11,663 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were 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 in the company, valued at $352,739.70. This represents a 8.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.30% of the company's stock.

Institutional Trading of Vuzix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Vuzix by 373.7% during the 4th quarter. State Street Corp now owns 7,226,194 shares of the company's stock worth $27,315,000 after purchasing an additional 5,700,613 shares during the period. Vanguard Group Inc. grew its position in Vuzix by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,631,584 shares of the company's stock worth $11,367,000 after buying an additional 147,811 shares in the last quarter. Millennium Management LLC grew its position in Vuzix by 278.1% during 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. Geode Capital Management LLC increased its stake in Vuzix by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,550,039 shares of the company's stock valued at $5,860,000 after acquiring an additional 40,576 shares during the period. Finally, Marshall Wace LLP raised its holdings in Vuzix by 133.5% in the 2nd quarter. Marshall Wace LLP now owns 1,149,107 shares of the company's stock valued at $3,355,000 after acquiring an additional 657,041 shares in the last quarter. 35.87% of the stock is currently 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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