Maxim Group reaffirmed their buy rating on shares of Vuzix (NASDAQ:VUZI) in a report released on Friday.

“Revenue disappoints; but inventory and rising backlog indicate manufacturing, not demand was the issue. S&M decline is a concern, which leads us to reducing our Dec Q and CY19 estimates. Given our deep dive on optical train R&D roadmap, we continue to believe VUZI waveguide can become the de factor optical train technology, thus we are maintaining our long-term estimates for a 12-month price target of $11 and Buy Rating.”,” the firm’s analyst wrote.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Vuzix from a sell rating to a hold rating in a research report on Saturday, October 13th. ValuEngine downgraded Vuzix from a buy rating to a hold rating in a research report on Monday, July 30th. Finally, Chardan Capital set a $10.00 price objective on Vuzix and gave the stock a buy rating in a research report on Friday, August 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $9.08.

Vuzix stock traded down $0.09 during trading on Friday, reaching $6.05. 313,934 shares of the company were exchanged, compared to its average volume of 291,868. Vuzix has a 52-week low of $4.90 and a 52-week high of $11.40. The company has a market cap of $176.35 million, a price-to-earnings ratio of -5.93 and a beta of 1.05.

Vuzix (NASDAQ:VUZI) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. Vuzix had a negative return on equity of 74.46% and a negative net margin of 318.25%. The firm had revenue of $1.92 million for the quarter. Equities analysts predict that Vuzix will post -0.84 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in Vuzix by 167.8% in the second quarter. Bank of New York Mellon Corp now owns 65,614 shares of the company’s stock valued at $489,000 after purchasing an additional 41,110 shares during the period. Millennium Management LLC purchased a new stake in Vuzix in the first quarter valued at $996,000. BlackRock Inc. raised its position in Vuzix by 458.4% in the second quarter. BlackRock Inc. now owns 1,580,717 shares of the company’s stock valued at $11,775,000 after purchasing an additional 1,297,633 shares during the period. Janney Montgomery Scott LLC raised its position in Vuzix by 60.8% in the second quarter. Janney Montgomery Scott LLC now owns 19,300 shares of the company’s stock valued at $144,000 after purchasing an additional 7,300 shares during the period. Finally, Rhumbline Advisers purchased a new stake in Vuzix in the second quarter valued at $146,000. Institutional investors own 19.78% of the company’s stock.

Vuzix Company Profile

Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. Its wearable display products include augmented reality (AR) smart glasses for various enterprise and commercial users and applications; and video viewing glasses for on-the-go users as mobile displays for entertainment and gaming.

See Also: Correction

Receive News & Ratings for Vuzix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vuzix and related companies with MarketBeat.com's FREE daily email newsletter.