Vuzix Target of Unusually High Options Trading (NASDAQ:VUZI)

Key Points

• Vuzix Corporation (NASDAQ:VUZI) experienced a 74% increase in call options trading, with 2,765 call options acquired on a recent Wednesday.
• Several institutional investors, including Millennium Management LLC and Geode Capital Management LLC, have significantly increased their stakes in Vuzix, now comprising 35.87% of the stock's ownership.
• For its latest quarterly earnings, Vuzix reported a loss of ($0.10) EPS, outperforming expectations, with revenue totaling $1.30 million, below analyst estimates of $1.63 million.

Vuzix Corporation (NASDAQ:VUZI - Get Free Report) saw some unusual options trading activity on Wednesday. Stock traders acquired 2,765 call options on the stock. This represents an increase of approximately 74% compared to the average daily volume of 1,588 call options.

Institutional Trading of Vuzix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of Vuzix by 278.1% in the first quarter. Millennium Management LLC now owns 1,911,972 shares of the company's stock valued at $3,900,000 after purchasing an additional 1,406,234 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Vuzix in the second quarter valued at about $3,547,000. Geode Capital Management LLC increased 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 acquiring an additional 766,420 shares during the period. Marshall Wace LLP increased 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 acquiring an additional 657,041 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in Vuzix during the second quarter worth about $1,274,000. 35.87% of the stock is owned by institutional investors.

Vuzix Stock Up 2.3%

VUZI traded up $0.08 during trading hours on Wednesday, hitting $3.36. 1,012,166 shares of the company's stock were exchanged, compared to its average volume of 1,853,983. Vuzix has a 1-year low of $0.85 and a 1-year high of $5.79. The stock's 50-day moving average is $2.24 and its two-hundred day moving average is $2.32. The stock has a market cap of $259.48 million, a price-to-earnings ratio of -6.58 and a beta of 1.50.

Vuzix (NASDAQ:VUZI - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $1.63 million.

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.

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