Vuzix (NASDAQ:VUZI – Get Free Report) announced its earnings results on Thursday. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03), Briefing.com reports. The business had revenue of $2.18 million for the quarter, compared to analyst estimates of $4.73 million. Vuzix had a negative return on equity of 37.34% and a negative net margin of 293.90%. The company’s quarterly revenue was down 36.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share.
Vuzix Trading Down 17.3 %
Shares of VUZI opened at $2.58 on Friday. Vuzix has a one year low of $2.50 and a one year high of $6.06. The stock has a 50 day moving average price of $3.42 and a 200 day moving average price of $4.25.
Insider Buying and Selling
In other news, Director Edward William Jr. Kay purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average cost of $4.23 per share, for a total transaction of $42,300.00. Following the completion of the transaction, the director now owns 206,843 shares of the company’s stock, valued at $874,945.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.20% of the stock is owned by company insiders.
Institutional Trading of Vuzix
Analyst Ratings Changes
Separately, BTIG Research downgraded Vuzix from a “buy” rating to a “neutral” rating in a research note on Friday.
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.
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