Vuzix (NASDAQ:VUZI) Insider Christopher Iain Parkinson Sells 9,457 Shares

Vuzix Corporation (NASDAQ:VUZI) insider Christopher Iain Parkinson sold 9,457 shares of Vuzix stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $2.92, for a total transaction of $27,614.44. Following the sale, the insider directly owned 142,793 shares of the company’s stock, valued at $416,955.56. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Vuzix Trading Up 28.5%

Shares of NASDAQ:VUZI traded up $0.83 on Tuesday, reaching $3.74. 11,329,379 shares of the company traded hands, compared to its average volume of 1,998,274. Vuzix Corporation has a 52 week low of $1.47 and a 52 week high of $5.79. The business’s 50-day simple moving average is $2.96 and its 200 day simple moving average is $2.74. The stock has a market capitalization of $299.69 million, a P/E ratio of -8.13 and a beta of 1.75.

Vuzix (NASDAQ:VUZI) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Vuzix had a negative return on equity of 117.63% and a negative net margin of 702.71%.The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.92 million.

Hedge Funds Weigh In On Vuzix

Several institutional investors and hedge funds have recently added to or reduced their stakes in VUZI. American Century Companies Inc. acquired a new position in Vuzix during the 1st quarter valued at approximately $35,000. PEAK6 LLC acquired a new stake in shares of Vuzix in the first quarter valued at about $111,000. Vident Advisory LLC purchased a new position in shares of Vuzix in the first quarter valued at approximately $435,000. Millennium Management LLC lifted its stake 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 worth $3,900,000 after buying an additional 1,406,234 shares in the last quarter. Finally, Laidlaw Wealth Management LLC purchased a new position in Vuzix during the first quarter worth approximately $70,000. Hedge funds and other institutional investors own 35.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Vuzix from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Craig Hallum reaffirmed a “buy” rating on shares of Vuzix in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Vuzix in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company 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.