Rhumbline Advisers Cuts Stake in Vuzix Co. (NASDAQ:VUZI)

Rhumbline Advisers lessened its holdings in Vuzix Co. (NASDAQ:VUZI) by 66.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,747 shares of the company’s stock after selling 61,283 shares during the period. Rhumbline Advisers’ holdings in Vuzix were worth $42,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Simmons Bank grew its stake in Vuzix by 89.9% during the 2nd quarter. Simmons Bank now owns 30,200 shares of the company’s stock worth $41,000 after purchasing an additional 14,300 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Vuzix in the first quarter valued at $27,000. Mcrae Capital Management Inc. purchased a new stake in Vuzix during the 2nd quarter worth about $31,000. Quadrature Capital Ltd acquired a new position in shares of Vuzix during the 1st quarter worth about $28,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Vuzix by 23.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 132,527 shares of the company’s stock valued at $276,000 after purchasing an additional 25,480 shares in the last quarter. Institutional investors and hedge funds own 35.87% of the company’s stock.

Vuzix Stock Down 5.1 %

VUZI opened at $1.11 on Wednesday. The firm has a market cap of $71.85 million, a price-to-earnings ratio of -1.41 and a beta of 1.50. The business’s 50 day moving average is $1.02 and its two-hundred day moving average is $1.24. Vuzix Co. has a 52 week low of $0.83 and a 52 week high of $3.73.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.52). The business had revenue of $1.09 million for the quarter. Vuzix had a negative return on equity of 114.41% and a negative net margin of 1,285.06%.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lowered their target price on shares of Vuzix from $3.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

Vuzix Profile

Vuzix Corporation designs, manufactures, and markets smart glasses and augmented reality (AR) technologies and products for the enterprise, medical, defense, and consumer markets. The company’s products include head-mounted smart personal display and wearable computing devices that offer users a portable viewing experience, provide solutions for mobility, wearable displays, and augmented reality, as well as original equipment manufacturer waveguide optical components and display engines.