The stock of Vuzix Corporation (NASDAQ:VUZI) gapped down by $0.09 today and has $7.80 target or 12.00% below today’s $8.86 share price. The 5 months technical chart setup indicates high risk for the $158.29 million company. The gap down was reported on Oct, 1 by Barchart.com. If the $7.80 price target is reached, the company will be worth $18.99M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.85% or $0.26 on September 30, hitting $8.86. About 383,061 shares traded hands. Vuzix Corporation (NASDAQ:VUZI) has risen 55.99% since February 29, 2016 and is uptrending. It has outperformed by 45.56% the S&P500.
Analysts await Vuzix Corporation (NASDAQ:VUZI) to report earnings on November, 10. They expect $-0.16 earnings per share, up 5.88% or $0.01 from last year’s $-0.17 per share. After $-0.28 actual earnings per share reported by Vuzix Corporation for the previous quarter, Wall Street now forecasts -42.86% EPS growth.
Vuzix Corporation (NASDAQ:VUZI) Ratings Coverage
Out of 3 analysts covering Vuzix (NASDAQ:VUZI), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Vuzix has been the topic of 6 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Zacks given on Friday, August 21. The rating was reinitiated by Chardan Capital Markets with “Buy” on Monday, September 28. The stock of Vuzix Corporation (NASDAQ:VUZI) earned “Buy” rating by Chardan Capital Markets on Monday, December 14. On Thursday, December 10 the stock rating was initiated by Rodman & Renshaw with “Buy”. Chardan Capital Markets maintained Vuzix Corporation (NASDAQ:VUZI) rating on Monday, August 17. Chardan Capital Markets has “Buy” rating and $7.0 price target. The firm has “Buy” rating given on Thursday, December 10 by H.C. Wainwright.
According to Zacks Investment Research, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York.”
Insitutional Activity: The institutional sentiment increased to 1.08 in 2016 Q2. Its up 0.50, from 0.58 in 2016Q1. The ratio increased, as 6 funds sold all Vuzix Corporation shares owned while 6 reduced positions. 6 funds bought stakes while 7 increased positions. They now own 1.27 million shares or 5.32% more from 1.20 million shares in 2016Q1.
Akanthos Capital Mngmt Limited Liability Corp has invested 2.39% of its portfolio in Vuzix Corporation (NASDAQ:VUZI). Grp Inc One Trading Lp reported 6,211 shares or 0% of all its holdings. Macroview Invest Mgmt Ltd Liability has 0% invested in the company for 100 shares. Vanguard last reported 0% of its portfolio in the stock. Schwab Charles Management Inc, a California-based fund reported 35,500 shares. Northern Trust last reported 15,796 shares in the company. First Eagle Inv Mgmt Ltd Llc has 0% invested in the company for 69,933 shares. Deutsche Natl Bank Ag owns 1,515 shares or 0% of their US portfolio. Royal Financial Bank Of Canada holds 0% of its portfolio in Vuzix Corporation (NASDAQ:VUZI) for 600 shares. Moreover, Blackrock Institutional Na has 0% invested in Vuzix Corporation (NASDAQ:VUZI) for 110,432 shares. Moreover, Thompson Davis & Incorporated has 0.08% invested in Vuzix Corporation (NASDAQ:VUZI) for 6,250 shares. Mount Lucas Lp accumulated 0.01% or 8,000 shares. Peak6 Invs L P has invested 0% of its portfolio in Vuzix Corporation (NASDAQ:VUZI). Geode Capital Mngmt Limited Com has invested 0% of its portfolio in Vuzix Corporation (NASDAQ:VUZI). Ladenburg Thalmann Fincl Services Incorporated reported 177 shares or 0% of all its holdings.
More notable recent Vuzix Corporation (NASDAQ:VUZI) news were published by: Streetinsider.com which released: “Vuzix Corp. (VUZI) Says Nearing Production of M300 Smart Glasses” on September 29, 2016, also Streetinsider.com with their article: “Vuzix Corp. (VUZI) Begins Shipping DVT Units of M300 Smart Glasses” published on September 28, 2016, Usatoday.com published: “Vuzix Corp. sees future in augmented reality” on November 30, 2015. More interesting news about Vuzix Corporation (NASDAQ:VUZI) were released by: Investorplace.com and their article: “Trade of the Day: Vuzix Corporation (NASDAQ:VUZI)” published on August 01, 2016 as well as Streetinsider.com‘s news article titled: “Vuzix Corp. (VUZI) Completes Integration of Valve’s SteamVR” with publication date: August 16, 2016.
VUZI Company Profile
Vuzix Corporation, incorporated on October 16, 1997, is engaged in the design, manufacture, marketing and sale of wearable display devices and smart glasses devices known commercially as Video Eyewear (also referred to as head mounted displays (HMDs), Smart Glasses, wearable displays, video glasses, personal viewers, near-eye virtual displays, and near-eye displays or NEDs). These devices are worn like eyeglasses and feature built-in video screens and in some cases a computer, that enable the user to view and interact with video and digital content, such as movies, computer data, the Internet or video games. The Company’s Video Eyewear products provide virtual large high-resolution screens, fit in a user’s pocket or purse and can be viewed practically anywhere, anytime. The Company’s Video Eyewear are designed to work with mobile electronic devices, such as cell phones, laptop computers, tablets, portable media players and gaming systems.
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