Vuzix (NASDAQ:VUZI) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Vuzix Corporation's share price dropped below its 200-day moving average of $2.64, trading as low as $2.05 before closing at $2.10.
• The company reported a quarterly earnings loss of ($0.11) EPS, exceeding consensus estimates, with revenue of $1.58 million against expected figures of $1.34 million.
• Recent institutional investments in Vuzix included **Wells Fargo increasing its holdings by 130.9%**, indicating growing interest among institutional investors.

Shares of Vuzix Corporation (NASDAQ:VUZI - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.64 and traded as low as $2.05. Vuzix shares last traded at $2.10, with a volume of 2,144,243 shares trading hands.

Vuzix Stock Performance

The company has a market cap of $170.40 million, a P/E ratio of -2.17 and a beta of 1.40. The stock has a 50-day moving average of $2.61 and a two-hundred day moving average of $2.61.

Vuzix (NASDAQ:VUZI - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. Vuzix had a negative return on equity of 198.84% and a negative net margin of 1,352.74%. The company had revenue of $1.58 million during the quarter, compared to analyst estimates of $1.34 million.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Vuzix by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 725,827 shares of the company's stock worth $2,860,000 after acquiring an additional 52,365 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Vuzix in the fourth quarter worth $50,000. Wells Fargo & Company MN grew its holdings in shares of Vuzix by 130.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,056 shares of the company's stock worth $28,000 after acquiring an additional 4,000 shares during the period. Invesco Ltd. bought a new stake in Vuzix during the fourth quarter valued at about $78,000. Finally, Parallax Volatility Advisers L.P. grew its holdings in Vuzix by 89.3% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 22,373 shares of the company's stock valued at $88,000 after purchasing an additional 10,554 shares during the period. Hedge funds and other institutional investors own 35.87% of the company's stock.

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.