Chardan Capital Thinks Vuzix Corporation’s Stock is Going to Recover
In a report released yesterday, James McIlree from Chardan Capital reiterated a Buy rating on Vuzix Corporation (VUZI), with a price target of $7. The company’s shares closed on Friday at $1.86, close to its 52-week low of $1.77.
“Wear has been aggressive in the market as well. We think this led to some delays in purchases as customers evaluated the technology options relative to their needs and pricing alternatives since Vuzix has lowered prices of its M300 series and Blade in response to competition.”
According to TipRanks.com, McIlree is ranked #4747 out of 5240 analysts.
Vuzix Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $7.
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Based on Vuzix Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $5.06 million. In comparison, last year the company had a GAAP net loss of $6.15 million.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VUZI in relation to earlier this year.
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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.