Vuzix (NASDAQ:VUZI) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Vuzix (NASDAQ:VUZI) from a hold rating to a sell rating in a research report released on Saturday morning.

Vuzix Trading Up 1.6%

VUZI opened at $2.59 on Friday. The stock’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $2.92. The stock has a market cap of $207.54 million, a PE ratio of -5.63 and a beta of 1.40. Vuzix has a 1 year low of $1.47 and a 1 year high of $4.29.

Insider Buying and Selling at Vuzix

In other news, insider Christopher Iain Parkinson sold 11,663 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 131,130 shares in the company, valued at approximately $352,739.70. This represents a 8.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Vuzix

Large investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Vuzix by 373.7% during the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock worth $27,315,000 after buying an additional 5,700,613 shares in the last quarter. Millennium Management LLC lifted its holdings in Vuzix by 278.1% during the 1st 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. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Vuzix in the 2nd quarter valued at $3,547,000. AIGH Capital Management LLC acquired a new stake in shares of Vuzix in the 3rd quarter valued at $2,813,000. Finally, Geode Capital Management LLC raised its holdings in Vuzix by 101.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,519,934 shares of the company’s stock worth $4,439,000 after purchasing an additional 766,420 shares during the last quarter. Institutional investors own 35.87% of the company’s stock.

About Vuzix

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.