Vuzix (NASDAQ:VUZI) Releases Quarterly Earnings Results

Key Points

• Vuzix reported a quarterly loss of $0.09 per share, beating analyst expectations for a $0.11 loss, but revenue of $1.11 million fell short of the $1.50 million consensus estimate.
• The company remains financially pressured, posting a negative 504.12% net margin and negative 116.50% return on equity. Shares rose 0.8% to $2.64 following the results.
• Analyst sentiment is cautious: Vuzix has an average “Hold” rating, with recent coverage including a downgrade to “Sell” and a reiterated “Sell” rating. Two directors also recently sold shares.

Vuzix (NASDAQ:VUZI - Get Free Report) announced its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02, FiscalAI reports. The firm had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.50 million. Vuzix had a negative return on equity of 116.50% and a negative net margin of 504.12%.

Vuzix Trading Up 0.8%

Shares of NASDAQ:VUZI traded up $0.02 during mid-day trading on Thursday, reaching $2.64. The company had a trading volume of 1,045,415 shares, compared to its average volume of 1,408,947. The firm has a market cap of $219.54 million, a price-to-earnings ratio of -6.60 and a beta of 1.78. The company's 50-day moving average price is $2.74 and its 200-day moving average price is $2.81. Vuzix has a one year low of $1.83 and a one year high of $5.62.

Insider Buying and Selling at Vuzix

In other Vuzix news, Director Paula Beck Whitten-Doolin sold 32,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $4.68, for a total value of $149,760.00. Following the completion of the sale, the director directly owned 90,668 shares of the company's stock, valued at $424,326.24. This trade represents a 26.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Timothy Heydenreich Harned sold 10,000 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $4.73, for a total value of $47,300.00. Following the completion of the sale, the director owned 318,158 shares in the company, valued at approximately $1,504,887.34. The trade was a 3.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vuzix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in Vuzix in the 4th quarter worth approximately $38,000. Jump Financial LLC purchased a new position in shares of Vuzix during the second quarter worth approximately $31,000. Insigneo Advisory Services LLC purchased a new stake in shares of Vuzix in the 4th quarter valued at $41,000. Quantbot Technologies LP bought a new position in shares of Vuzix during the 3rd quarter valued at $36,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Vuzix by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 221,699 shares of the company's stock valued at $838,000 after purchasing an additional 11,916 shares during the last quarter. Institutional investors own 35.87% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vuzix in a report on Wednesday, July 15th. Wall Street Zen lowered Vuzix from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Vuzix has an average rating of "Hold".

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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