Vuzix (NASDAQ:VUZI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $4.25 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 30.37% from the company’s previous close.
According to Zacks, “Vuzix is a supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. “
Separately, ValuEngine cut shares of Vuzix from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th.
Vuzix (NASDAQ:VUZI) last posted its quarterly earnings data on Friday, March 15th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The company had revenue of $1.98 million during the quarter. Vuzix had a negative net margin of 270.24% and a negative return on equity of 57.03%. On average, analysts anticipate that Vuzix will post -0.65 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Vuzix by 59.9% in the fourth quarter. Bank of America Corp DE now owns 23,417 shares of the company’s stock valued at $112,000 after acquiring an additional 8,773 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Vuzix in the fourth quarter valued at approximately $120,000. PEAK6 Investments LLC bought a new position in shares of Vuzix in the third quarter valued at approximately $174,000. Virtu Financial LLC bought a new position in shares of Vuzix in the third quarter valued at approximately $179,000. Finally, Rhumbline Advisers boosted its holdings in shares of Vuzix by 51.3% in the fourth quarter. Rhumbline Advisers now owns 29,595 shares of the company’s stock valued at $142,000 after acquiring an additional 10,029 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.
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.
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