Chardan Capital Thinks Vuzix Corporation’s Stock is Going to Recover


In a report released today, James McIlree from Chardan Capital reiterated a Buy rating on Vuzix Corporation (VUZI), with a price target of $10. The company’s shares closed yesterday at $2.42, close to its 52-week low of $2.31.

McIlree noted:

“We have Q2 revenue of $2.5 million, increasing to $4 million in Q3 and $6 million in Q4. There is good visibility to Q2 revenues with bookings to date already approaching 60% of our Q2 target.”

According to TipRanks.com, McIlree is a 1-star analyst with an average return of -4.0% and a 42.9% success rate. McIlree covers the Consumer Goods sector, focusing on stocks such as Foresight Autonomous Holdings Ltd, KEYW Holding, and Arcimoto Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vuzix Corporation with a $8.67 average price target, a 258.3% upside from current levels. In a report issued on May 10, Maxim Group also reiterated a Buy rating on the stock with a $8 price target.

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The company has a one-year high of $8.45 and a one-year low of $2.31. Currently, Vuzix Corporation has an average volume of 353.7K.

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Vuzix Corp. engages in the design, manufacture, marketing, sale, and supply of augmented reality wearable display devices. Its products include personal display and wearable computing devices that offer users a portable viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality.

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