Vuzix (NASDAQ:VUZI) PT Lowered to $3.00

Vuzix (NASDAQ:VUZI) had its target price cut by Craig Hallum from $3.50 to $3.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 145.90% from the company’s current price.

Vuzix Stock Up 2.1 %

VUZI stock opened at $1.22 on Tuesday. The business’s fifty day simple moving average is $1.45 and its two-hundred day simple moving average is $2.10. Vuzix has a twelve month low of $1.10 and a twelve month high of $6.06. The firm has a market cap of $78.96 million, a price-to-earnings ratio of -1.54 and a beta of 1.86.

Hedge Funds Weigh In On Vuzix

Several institutional investors have recently made changes to their positions in VUZI. BlackRock Inc. increased its stake in shares of Vuzix by 15.0% during the second quarter. BlackRock Inc. now owns 4,575,383 shares of the company’s stock valued at $23,334,000 after buying an additional 597,330 shares during the period. State Street Corp increased its stake in shares of Vuzix by 18.2% during the second quarter. State Street Corp now owns 3,693,622 shares of the company’s stock valued at $26,225,000 after buying an additional 569,860 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Vuzix during the fourth quarter valued at $428,000. Geode Capital Management LLC increased its stake in shares of Vuzix by 17.2% during the second quarter. Geode Capital Management LLC now owns 1,268,939 shares of the company’s stock valued at $6,479,000 after buying an additional 185,856 shares during the period. Finally, Morgan Stanley increased its stake in shares of Vuzix by 60.1% during the fourth quarter. Morgan Stanley now owns 371,654 shares of the company’s stock valued at $1,353,000 after buying an additional 139,469 shares during the period. Hedge funds and other institutional investors own 35.87% of the company’s stock.

About Vuzix

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.