Vuzix (NASDAQ:VUZI) PT Lowered to $3.00

Vuzix (NASDAQ:VUZI) had its price objective lowered by analysts at Craig Hallum from $3.50 to $3.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 146.91% from the company’s current price.

Vuzix Price Performance

Shares of VUZI traded down $0.02 during mid-day trading on Tuesday, reaching $1.22. 891,815 shares of the company’s stock traded hands, compared to its average volume of 719,705. The stock has a market cap of $78.63 million, a P/E ratio of -1.93 and a beta of 1.86. The stock’s 50-day moving average is $1.47 and its two-hundred day moving average is $2.12. Vuzix has a 12 month low of $1.10 and a 12 month high of $6.06.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VUZI. Keel Point LLC bought a new position in shares of Vuzix during the fourth quarter valued at approximately $27,000. Tower Research Capital LLC TRC grew its stake in Vuzix by 93.2% in the third quarter. Tower Research Capital LLC TRC now owns 5,573 shares of the company’s stock worth $32,000 after purchasing an additional 2,688 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in Vuzix in the third quarter worth approximately $38,000. FMR LLC grew its stake in Vuzix by 1,554.8% in the first quarter. FMR LLC now owns 9,234 shares of the company’s stock worth $38,000 after purchasing an additional 8,676 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in Vuzix in the third quarter worth approximately $41,000. Institutional investors own 35.87% of the company’s stock.

Vuzix Company Profile

Vuzix Corporation, together with its subsidiaries, designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices for consumer and enterprise markets in North America, Europe, the Asia-Pacific, and internationally. It provides M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; Vuzix Shield smart glasses; Vuzix Ultralite smart glasses; and Mobilium logistics mobility software, which removes traditional middleware and supports various ERP systems, as well as custom and engineering solutions.