Vuzix (NASDAQ:VUZI) Price Target Lowered to $3.00 at Craig Hallum

Vuzix (NASDAQ:VUZI) had its price target reduced by Craig Hallum from $3.50 to $3.00 in a report published on Tuesday, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Vuzix Trading Down 2.8 %

Shares of VUZI stock opened at $1.20 on Tuesday. The company’s fifty day simple moving average is $1.47 and its 200-day simple moving average is $2.12. Vuzix has a 52 week low of $1.10 and a 52 week high of $6.06. The company has a market cap of $77.34 million, a PE ratio of -1.87 and a beta of 1.86.

Hedge Funds Weigh In On Vuzix

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in shares of Vuzix by 93.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,573 shares of the company’s stock worth $32,000 after purchasing an additional 2,688 shares during the last quarter. FMR LLC boosted its holdings in shares of Vuzix by 1,554.8% in the 1st quarter. FMR LLC now owns 9,234 shares of the company’s stock valued at $38,000 after buying an additional 8,676 shares during the period. Confluence Wealth Services Inc. acquired a new position in shares of Vuzix in the 3rd quarter valued at about $38,000. Creative Planning acquired a new position in shares of Vuzix in the 2nd quarter valued at about $75,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Vuzix in the 1st quarter valued at about $71,000. 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.