Vuzix (NASDAQ:VUZI) Releases Earnings Results, Misses Expectations By $0.03 EPS

Vuzix (NASDAQ:VUZI) posted its earnings results on Thursday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03), FiscalAI reports. Vuzix had a negative return on equity of 117.63% and a negative net margin of 702.71%.The company had revenue of $2.24 million for the quarter, compared to analyst estimates of $1.92 million.

Vuzix Trading Down 1.5%

VUZI stock traded down $0.04 during mid-day trading on Thursday, reaching $2.55. The company’s stock had a trading volume of 800,756 shares, compared to its average volume of 1,239,361. The company’s 50 day moving average is $2.89 and its two-hundred day moving average is $2.92. Vuzix has a fifty-two week low of $1.47 and a fifty-two week high of $4.29. The stock has a market cap of $204.33 million, a PE ratio of -5.54 and a beta of 1.40.

Insider Activity

In other Vuzix news, insider Christopher Iain Parkinson sold 11,663 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $2.69, for a total value of $31,373.47. Following the completion of the sale, the insider directly owned 131,130 shares in the company, valued at $352,739.70. This represents a 8.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings 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. Goldman Sachs Group Inc. boosted its holdings in Vuzix by 59.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 433,900 shares of the company’s stock valued at $885,000 after purchasing an additional 162,229 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Vuzix by 101.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock valued at $4,439,000 after buying an additional 766,420 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Vuzix in the 2nd quarter valued at approximately $1,274,000. Finally, Rhumbline Advisers acquired a new stake in shares of Vuzix during the 2nd quarter worth approximately $269,000. Hedge funds and other institutional investors own 35.87% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Vuzix from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Vuzix presently has an average rating of “Hold”.

Vuzix Company Profile

Vuzix Corporation (NASDAQ: VUZI) is a technology company specializing in the design, development and manufacture of wearable display devices and smart glasses. Headquartered in Rochester, New York, Vuzix focuses on next-generation augmented reality (AR) and virtual reality (VR) solutions that enable hands-free access to video, data and applications. Its products integrate high-resolution optics, onboard sensors and wireless connectivity to support immersive visual experiences for professional and consumer use.

Vuzix’s product portfolio includes smart glasses and head-mounted displays such as the Vuzix Blade series and the M400 family.