Vuzix (NASDAQ:VUZI) Shares Cross Below 50-Day Moving Average – Should You Sell?

Shares of Vuzix Co. (NASDAQ:VUZI) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.13 and traded as low as $1.08. Vuzix shares last traded at $1.15, with a volume of 664,967 shares trading hands.

Wall Street Analysts Forecast Growth

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

Vuzix Stock Down 5.7 %

The stock has a fifty day simple moving average of $1.13 and a 200 day simple moving average of $1.23.

Vuzix (NASDAQ:VUZI) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.52). Vuzix had a negative net margin of 1,285.06% and a negative return on equity of 114.41%. The business had revenue of $1.09 million during the quarter.

Hedge Funds Weigh In On Vuzix

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Vuzix by 26.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,226 shares of the company’s stock worth $327,000 after purchasing an additional 56,905 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Vuzix by 86.9% during the first quarter. BNP Paribas Financial Markets now owns 279,650 shares of the company’s stock valued at $338,000 after purchasing an additional 130,012 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Vuzix during the first quarter valued at $28,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Vuzix in the first quarter valued at about $27,000. Finally, SG Americas Securities LLC raised its holdings in shares of Vuzix by 219.7% in the second quarter. SG Americas Securities LLC now owns 111,508 shares of the company’s stock valued at $151,000 after acquiring an additional 76,626 shares in the last quarter. 35.87% of the stock is currently owned by hedge funds and other institutional investors.

About Vuzix

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.