Vuzix (NASDAQ:VUZI) Stock Price Crosses Above Fifty Day Moving Average - What's Next?

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)'s stock price passed 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 trading hands.

Vuzix Stock Up 4.9%

The business's fifty day moving average price is $2.20 and its 200 day moving average price is $2.31. The firm has a market capitalization of $198.76 million, a PE ratio of -5.04 and a beta of 1.50.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Vuzix during the second quarter worth about $3,547,000. Geode Capital Management LLC grew its position in Vuzix by 101.7% during 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 during the period. Marshall Wace LLP grew its position in Vuzix by 133.5% during the second quarter. Marshall Wace LLP now owns 1,149,107 shares of the company's stock worth $3,355,000 after buying an additional 657,041 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in Vuzix during the second quarter worth about $1,274,000. 35.87% of the stock is currently owned by institutional investors and hedge funds.

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.