Vuzix Co. (NASDAQ:VUZI) Sees Large Decline in Short Interest

Vuzix Co. (NASDAQ:VUZI) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 7,320,000 shares, a drop of 17.2% from the June 30th total of 8,840,000 shares. Based on an average daily trading volume, of 788,900 shares, the days-to-cover ratio is currently 9.3 days. Approximately 12.3% of the company’s stock are short sold.

Vuzix Stock Down 1.9 %

Shares of NASDAQ VUZI traded down $0.03 during midday trading on Monday, hitting $1.28. 117,966 shares of the company’s stock were exchanged, compared to its average volume of 742,898. Vuzix has a 12 month low of $1.10 and a 12 month high of $5.33. The company’s 50 day moving average price is $1.38 and its 200 day moving average price is $1.45. The firm has a market capitalization of $82.53 million, a PE ratio of -1.65 and a beta of 1.53.

Vuzix (NASDAQ:VUZI) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) earnings per share for the quarter. Vuzix had a negative net margin of 502.48% and a negative return on equity of 56.58%. The company had revenue of $2.00 million during the quarter. During the same quarter in the previous year, the firm earned ($0.16) earnings per share.

Analyst Ratings Changes

Separately, Craig Hallum cut their price target on shares of Vuzix from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th.

Institutional Trading of Vuzix

A number of institutional investors have recently modified their holdings of the stock. Keel Point LLC acquired a new position in Vuzix in the fourth quarter valued at about $27,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Vuzix during the 1st quarter worth approximately $27,000. Mcrae Capital Management Inc. bought a new position in Vuzix in the second quarter valued at approximately $31,000. Quadrature Capital Ltd acquired a new position in Vuzix during the first quarter valued at approximately $28,000. Finally, Simmons Bank raised its position in Vuzix by 89.9% during the second quarter. Simmons Bank now owns 30,200 shares of the company’s stock valued at $41,000 after purchasing an additional 14,300 shares in the last quarter. 35.87% of the stock is currently owned by institutional investors.

Vuzix Company Profile

Vuzix Corporation, together with its subsidiaries, designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices in North America, Europe, the Asia-Pacific, and internationally. It provides monocular smart glasses for enterprise, industrial, commercial, defense and security, and medical markets; Vuzix Z100, Vuzix Blade, and Vuzix Shield smart glasses; original equipment manufacturer waveguide optics and display engines; and Mobilium logistics mobility software, which removes traditional middleware, and supports various ERP systems and modern-day warehouse picking with wearable devices, as well as custom solutions and engineering solutions.