Vuzix (NASDAQ:VUZI) PT Lowered to $3.00

Vuzix (NASDAQ:VUZI) had its price target cut by research analysts at Craig Hallum from $3.50 to $3.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 145.90% from the stock’s previous close.

Vuzix Stock Up 2.1 %

Vuzix stock opened at $1.22 on Tuesday. The stock has a market capitalization of $78.96 million, a PE ratio of -1.54 and a beta of 1.86. Vuzix has a twelve month low of $1.10 and a twelve month high of $6.06. The company has a 50 day moving average of $1.45 and a 200-day moving average of $2.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Vuzix by 15.0% in 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 boosted its holdings in Vuzix by 2.0% during the third quarter. State Street Corp now owns 3,767,314 shares of the company’s stock worth $21,813,000 after purchasing an additional 73,692 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Vuzix by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 3,267,633 shares of the company’s stock worth $6,813,000 after purchasing an additional 87,872 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Vuzix by 17.2% during the second quarter. Geode Capital Management LLC now owns 1,268,939 shares of the company’s stock worth $6,479,000 after purchasing an additional 185,856 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Vuzix by 4.4% during the fourth quarter. Northern Trust Corp now owns 501,648 shares of the company’s stock worth $1,046,000 after purchasing an additional 20,926 shares during the last quarter. Institutional investors and hedge funds 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.