Vuzix Corporation (NASDAQ: VUZI) stock jumped 0.21% on Friday to $2.35 against a previous-day closing price of $2.34. With 0.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.51 million shares. During the session, the Consumer Electronics company that operates in wider Technology sector, reached to the highest price of $2.4600 whereas the lowest price it dropped to was $2.3101. The 52-week range on VUZI shows that it touched its highest point at $6.06 and its lowest point at $1.87 during that stretch. It currently has a 1-year price target of $5.50. Beta for the stock currently stands at 1.86.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VUZI was down-trending over the past week, with a drop of -9.11%, but this was down by -26.72% over a month. Three-month performance dropped to -43.76% while six-month performance fell -42.52%. The stock lost -48.80% in the past year, while it has lost -35.58% so far this year. A look at the trailing 12-month EPS for VUZI yields -0.65 with Next year EPS estimates of -0.58. For the next quarter, that number is -0.16. This implies an EPS growth rate of 0.39% for this year and 8.63% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 8.91%.
Float and Shares Shorts:
At present, 63.32 million VUZI shares are outstanding with a float of 58.51 million shares on hand for trading. On Oct 30, 2023, short shares totaled 11.24 million, which was 17.75% higher than short shares on Sep 28, 2023. In addition to Mr. Paul J. Travers as the firm’s Founder, Chairman, CEO & President, Mr. Grant Neil Russell CA serves as its CFO, Executive VP, Treasurer & Director.
Through their ownership of 44.76% of VUZI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.99% of VUZI, in contrast to 28.87% held by mutual funds. Shares owned by individuals account for 13.77%. As the largest shareholder in VUZI with 9.86% of the stake, ARK Investment Management LLC holds 6,242,003 shares worth 6,242,003. A second-largest stockholder of VUZI, BlackRock Fund Advisors, holds 3,967,236 shares, controlling over 6.27% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in VUZI, holding 3,186,244 shares or 5.03% stake. With a 5.30% stake in VUZI, the ARK Next Generation Internet ETF is the largest stakeholder. A total of 3,355,228 shares are owned by the mutual fund manager. The ARK Autonomous Technology & Robot, which owns about 4.23% of VUZI stock, is the second-largest Mutual Fund holder. It holds 2,678,043 shares valued at 8.7 million. SPDR S&P Kensho New Economies Com holds 3.29% of the stake in VUZI, owning 2,084,416 shares worth 6.77 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VUZI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With VUZI analysts setting a high price target of $6.00 and a low target of $5.00, the average target price over the next 12 months is $5.50. Based on these targets, VUZI could surge 155.32% to reach the target high and rise by 112.77% to reach the target low. Reaching the average price target will result in a growth of 134.04% from current levels.
Summary of Insider Activity:
Insiders traded VUZI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 143,247 while 0 shares were sold.