Vuzix (NASDAQ:VUZI) Shares Cross Above 50-Day Moving Average - Time to Sell?

Key Points

• Vuzix Corporation shares crossed above their 50-day moving average of $2.78, reaching a high of $4.15 before last trading at $4.08 with a volume of over 2.7 million shares.
• Analysts have mixed views on Vuzix, with Craig Hallum maintaining a "buy" rating, while Weiss Ratings issued a "sell" rating, resulting in a current consensus rating of "Hold."
• The company reported a loss of ($0.10) EPS, slightly beating estimates but missing revenue expectations, indicating ongoing financial struggles with a negative net margin of 707.90%.

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 $2.78 and traded as high as $4.15. Vuzix shares last traded at $4.08, with a volume of 2,707,179 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on VUZI shares. Craig Hallum reiterated a "buy" rating on shares of Vuzix in a research note on Wednesday, October 1st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Vuzix in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Vuzix Price Performance

The stock's 50-day moving average is $2.78 and its 200 day moving average is $2.51. The company has a market cap of $327.71 million, a PE ratio of -8.00 and a beta of 1.69.

Vuzix (NASDAQ:VUZI - Get Free Report) last posted 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 company had revenue of $1.30 million during the quarter, compared to analysts' expectations of $1.63 million.

Institutional Inflows and Outflows

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

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