Taylor Frigon Capital Management.. recently announced the acquisition of new stake in Vuzix Corporation (NASDAQ:VUZI). The institutional investor has increased its shareholding in the Technology company by 0.65% to 1.09 million shares with purchase of 7005.0 shares. This fresh investment now brings its stake to 2.76% valued currently at $4.47 million. In addition, BlackRock Fund Advisors raised its holdings by 6402.0 to 0.54 million shares. And Susquehanna Financial Group LLLP has lifted its position by 37.74% or 0.12 million shares – to 0.43 million shares.
With over 1.15 million Vuzix Corporation (VUZI) shares trading Friday and a closing price of $3.84 on the day, the dollar volume was approximately $4.43 million. The shares have shown a negative weekly performance of -10.90% and its price on 08/28/20 gained nearly 4.07%. Currently, there are 36.34M common shares owned by the public and among those 34.66M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for VUZI have a consensus price objective of $6.17. The analysts have set the share’s price value over the next 12 months at a high of $6.50 and a low of $6.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Vuzix Corporation stock is 2.20 for the next 12 months. The average price target is 37.76% above its last price level and an upside to the estimated low will see the stock gain 36.0% over that period. But an upside of 40.92% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 475,306 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Vuzix Corporation are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Taylor Frigon Core Growth Fund. Vanguard Total Stock Market Index owns 0.73 million shares of the company’s stock, all valued at over $3.02 million. The company bought an additional 33422.0 shares recently to bring their total holdings to about 1.87% of the shares outstanding. Vanguard Extended Market Index Fu bought 10210.0 shares to see its total holdings expand to 0.45 million shares valued at over $1.85 million and representing 1.14% of the shares outstanding. Taylor Frigon Core Growth Fund now owns shares totaling to 0.52% of the shares outstanding.
Shares of Vuzix Corporation (NASDAQ: VUZI) opened at $3.71, up $0.02 from a prior closing price of $3.69. However, the script later closed the day at $3.84, up 4.07%. The company’s stock has a 5-day price change of -10.90% and 61.34% over the past three months. VUZI shares are trading 91.04% year to date (YTD), with the 12-month market performance up to 109.84% higher. It has a 12-month low price of $0.86 and touched a high of $4.93 over the same period. Currently, 1.15 million shares have been traded, compared to an average intraday trading volume of 1.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.67%, 9.62%, and 66.44% respectively.
Institutional ownership of Vuzix Corporation (NASDAQ: VUZI) shares accounts for 15.20% of the company’s 36.34M shares outstanding. Mutual fund holders own 11.43%, while other institutional holders and individual stakeholders account for 4.51% and 10.31% respectively.
It has a market capitalization of $143.88M and a beta (3y monthly) value of 2.17. The earnings-per-share (ttm) stands at -$0.79. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.94% over the week and 9.08% over the month.
Analysts forecast that Vuzix Corporation (VUZI) will achieve an EPS of -$0.13 for the current quarter, -$0.13 for the next quarter and -$0.44 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.40%, and 21.40% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -4.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Vuzix Corporation (VUZI) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VUZI, a number of firms have released research notes about the stock. Alliance Global Partners stated their Neutral rating for the stock in a research note on May 11, 2020, with the firm’s price target at. Maxim Group coverage for the Vuzix Corporation (VUZI) stock in a research note released on October 28, 2016 offered a Buy rating with a price target of $11. Chardan Capital Markets was of a view on December 14, 2015 that the stock is Buy, while Rodman & Renshaw gave the stock Buy rating on December 10, 2015, issuing a price target of $10. Chardan Capital Markets on their part issued Buy rating on September 28, 2015.