Vuzix (NASDAQ:VUZI) Price Target Cut to $2.00 by Analysts at Craig Hallum

Vuzix (NASDAQ:VUZI) had its price objective lowered by Craig Hallum from $3.00 to $2.00 in a research note published on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Vuzix Price Performance

Shares of NASDAQ VUZI opened at $0.87 on Thursday. The company has a market cap of $56.33 million, a price-to-earnings ratio of -1.10 and a beta of 1.53. The stock’s 50-day moving average is $1.25 and its two-hundred day moving average is $1.37. Vuzix has a 1-year low of $0.83 and a 1-year high of $4.29.

Vuzix (NASDAQ:VUZI) last released its earnings results on Wednesday, August 14th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.52). The firm had revenue of $1.09 million for the quarter. Vuzix had a negative return on equity of 97.98% and a negative net margin of 1,285.06%.

Hedge Funds Weigh In On Vuzix

Institutional investors and hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its position in shares of Vuzix by 23.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 132,527 shares of the company’s stock worth $276,000 after acquiring an additional 25,480 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Vuzix in the first quarter valued at approximately $28,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Vuzix by 26.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,226 shares of the company’s stock valued at $327,000 after purchasing an additional 56,905 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Vuzix by 86.9% during the first quarter. BNP Paribas Financial Markets now owns 279,650 shares of the company’s stock worth $338,000 after purchasing an additional 130,012 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Vuzix by 108.5% during the 4th quarter. International Assets Investment Management LLC now owns 33,047 shares of the company’s stock worth $69,000 after buying an additional 17,197 shares during the last quarter. Institutional investors and hedge funds own 35.87% of the company’s stock.

Vuzix Company Profile

Vuzix Corporation, together with its subsidiaries, designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices in North America, Europe, the Asia-Pacific, and internationally. It provides monocular smart glasses for enterprise, industrial, commercial, defense and security, and medical markets; Vuzix Z100, Vuzix Blade, and Vuzix Shield smart glasses; original equipment manufacturer waveguide optics and display engines; and Mobilium logistics mobility software, which removes traditional middleware, and supports various ERP systems and modern-day warehouse picking with wearable devices, as well as custom solutions and engineering solutions.