Insider Buying: Vuzix Co. (NASDAQ:VUZI) Director Acquires 20,000 Shares of Stock

Vuzix Co. (NASDAQ:VUZI) Director Timothy Heydenreich Harned purchased 20,000 shares of Vuzix stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $1.31 per share, with a total value of $26,200.00. Following the transaction, the director now directly owns 186,016 shares in the company, valued at $243,680.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Vuzix Price Performance

Vuzix stock traded down $0.02 during midday trading on Tuesday, hitting $1.33. 488,942 shares of the company were exchanged, compared to its average volume of 722,863. Vuzix Co. has a fifty-two week low of $1.10 and a fifty-two week high of $6.06. The company’s fifty day moving average price is $1.43 and its 200-day moving average price is $2.04. The company has a market cap of $86.08 million, a PE ratio of -1.73 and a beta of 1.86.

Institutional Investors Weigh In On Vuzix

Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. boosted its position in Vuzix by 23.8% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 132,527 shares of the company’s stock valued at $276,000 after buying an additional 25,480 shares during the last quarter. KLCM Advisors Inc. boosted its stake in shares of Vuzix by 35.9% in the fourth quarter. KLCM Advisors Inc. now owns 30,300 shares of the company’s stock valued at $63,000 after buying an additional 8,000 shares during the period. Keel Point LLC acquired a new position in Vuzix during the fourth quarter valued at approximately $27,000. Taylor Frigon Capital Management LLC boosted its position in shares of Vuzix by 6.4% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 359,359 shares of the company’s stock worth $749,000 after purchasing an additional 21,650 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Vuzix by 108.5% in the 4th quarter. International Assets Investment Management LLC now owns 33,047 shares of the company’s stock valued at $69,000 after buying an additional 17,197 shares during the last quarter. 35.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum cut their target price on Vuzix from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th.

Vuzix Company Profile

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.