Vuzix (VUZI) Stock Price Up 5.1%

Vuzix Co. (NASDAQ:VUZI) rose 5.1% during mid-day trading on Wednesday . The stock traded as high as $6.30 and last traded at $6.20. Approximately 1,093,800 shares were traded during mid-day trading, an increase of 350% from the average daily volume of 243,122 shares. The stock had previously closed at $5.90.

VUZI has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Vuzix from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Thursday, September 14th. Maxim Group restated a “buy” rating and issued a $11.00 price objective on shares of Vuzix in a research note on Wednesday, September 6th. Finally, Chardan Capital set a $10.00 price objective on shares of Vuzix and gave the stock a “buy” rating in a research note on Tuesday.

The firm has a market cap of $143.19, a P/E ratio of -5.68 and a beta of 1.15.

In other Vuzix news, Director Edward William Jr. Kay purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $5.95 per share, for a total transaction of $59,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Paul A. Boris purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were acquired at an average price of $5.20 per share, for a total transaction of $26,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 29,300 shares of company stock worth $165,465. 18.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. ETF Managers Group LLC acquired a new stake in Vuzix during the second quarter worth $236,000. GSA Capital Partners LLP boosted its stake in Vuzix by 261.3% during the second quarter. GSA Capital Partners LLP now owns 38,300 shares of the company’s stock worth $251,000 after buying an additional 27,700 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Vuzix by 15.0% during the second quarter. Vanguard Group Inc. now owns 646,120 shares of the company’s stock worth $4,232,000 after buying an additional 84,127 shares in the last quarter. Hedge funds and other institutional investors own 7.92% of the company’s stock.

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About Vuzix

Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The company’s products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games. Its products include binocular wearable displays that contain two micro displays mounted in a frame attached to eyeglass-style temples or stereo headphones; monocular smart glasses products for the enterprise, industrial, and commercial markets, as well as video headphones; augmented reality products, which provide the user a live, direct or indirect, view of a physical, and real-world environment; and video viewing glasses as mobile displays for entertainment and gaming for on-the-go users, as well as support for stepping into virtual worlds, simulations, and virtual reality gaming.

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