Vuzix (NASDAQ:VUZI) Share Price Passes Above Fifty Day Moving Average - Should You Sell?

Key Points

• Vuzix Corporation's stock (NASDAQ:VUZI) crossed above its 50-day moving average of $2.21, reaching a high of $2.28 on Monday during trading.
• The company's latest earnings showed a loss of ($0.10) per share, surpassing analysts' expectations, though revenue of $1.30 million fell short of the $1.63 million forecast.
• Hedge funds have been active, with notable stakes increasing; for instance, BNP Paribas Financial Markets raised its stake by 1,340.5% during the second quarter.

Vuzix Corporation (NASDAQ:VUZI - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.21 and traded as high as $2.28. Vuzix shares last traded at $2.22, with a volume of 1,267,682 shares.

Vuzix Trading Down 0.4%

The firm has a market capitalization of $171.69 million, a PE ratio of -4.35 and a beta of 1.50. The business has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $2.32.

Vuzix (NASDAQ:VUZI - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $1.30 million during the quarter, compared to analysts' expectations of $1.63 million. Vuzix had a negative return on equity of 113.11% and a negative net margin of 707.90%.

Hedge Funds Weigh In On Vuzix

A number of hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. purchased a new position in shares of Vuzix during the 2nd quarter worth $71,000. Corient Private Wealth LLC lifted its stake in Vuzix by 14.8% during the 2nd quarter. Corient Private Wealth LLC now owns 183,958 shares of the company's stock worth $537,000 after acquiring an additional 23,648 shares in the last quarter. Vident Advisory LLC lifted its stake in Vuzix by 51.1% during the 2nd quarter. Vident Advisory LLC now owns 322,433 shares of the company's stock worth $942,000 after acquiring an additional 109,068 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Vuzix by 1,340.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 148,514 shares of the company's stock worth $434,000 after acquiring an additional 138,204 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Vuzix by 52.6% during the 2nd quarter. Bank of America Corp DE now owns 84,617 shares of the company's stock worth $247,000 after acquiring an additional 29,178 shares in the last quarter. 35.87% of the stock is currently owned by hedge funds and other institutional investors.

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.

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