Vuzix (NASDAQ:VUZI) Sees Large Volume Increase

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Shares of Vuzix Corp (NASDAQ:VUZI) saw an uptick in trading volume on Monday . 5,145,537 shares traded hands during trading, an increase of 1,341% from the previous session’s volume of 357,000 shares.The stock last traded at $2.95 and had previously closed at $2.03.

A number of brokerages recently weighed in on VUZI. Zacks Investment Research upgraded shares of Vuzix from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Friday, March 22nd. Chardan Capital set a $10.00 price objective on shares of Vuzix and gave the company a “buy” rating in a research note on Friday, May 10th.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.23 and a current ratio of 5.50. The company has a market cap of $97.84 million, a price-to-earnings ratio of -4.36 and a beta of 0.69.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Vuzix had a negative net margin of 288.62% and a negative return on equity of 68.94%. The company had revenue of $1.37 million for the quarter. Sell-side analysts forecast that Vuzix Corp will post -0.69 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Management Inc. acquired a new position in Vuzix during the first quarter valued at approximately $35,000. Renaissance Technologies LLC acquired a new position in Vuzix during the first quarter valued at approximately $108,000. Dimensional Fund Advisors LP boosted its position in Vuzix by 24.7% during the first quarter. Dimensional Fund Advisors LP now owns 38,053 shares of the company’s stock valued at $116,000 after purchasing an additional 7,538 shares during the last quarter. Advisor Group Inc. boosted its position in Vuzix by 486.5% during the first quarter. Advisor Group Inc. now owns 13,988 shares of the company’s stock valued at $43,000 after purchasing an additional 11,603 shares during the last quarter. Finally, Parametric Portfolio Associates LLC acquired a new position in Vuzix during the first quarter valued at approximately $204,000. Institutional investors and hedge funds own 22.05% of the company’s stock.

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Vuzix Company Profile (NASDAQ:VUZI)

Vuzix Corporation designs, manufactures, markets, and sells augmented reality (AR) wearable display devices in North America, the Asia-Pacific, Europe, and internationally. The company offers its products in the form of smart glasses and AR glasses. Its products include monocular smart glasses for enterprise, industrial, commercial, and medical markets; and blade smart sunglasses for applications ranging from basic text messaging and answering the phone to overlaying mapping directions, menus, weather, events, stock quotes, video conferencing, sports updates, social feeds, bio-metrics, and others.

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