Vuzix Corporation (NASDAQ:VUZI)
Shares of Vuzix Corporation (NASDAQ:VUZI) are higher for the third day in a row, four days before the Augmented Reality (AR) provider releases their Q3 financial earnings report. Volume is heavy – over three times the listed average. Today’s 6.5% move higher lends some relief to stock that has been sliding in value for over a year.
Vuzix Corporation (NASDAQ:VUZI) supplies Smart-Glasses and Augmented Reality (AR) technologies for the consumer and enterprise markets. Vuzix’s products include personal display and wearable computing devices for virtual and augmented reality. Vuzix holds 59 patents and 42 additional patents pending and numerous IP licenses. The company has won Consumer Electronics Show awards for innovation for the years 2005 to 2017.
This week Vuzix Corporation (NASDAQ:VUZI) announced that their patent portfolio had increased 53% over the last year. The number of patents, and pending patents, has increased from 66 to 101 from 66. In the area of optics, head mounted displays, and smart glasses, the company now has 59 patents compared to 43 one year ago.
VUZI Stock Performance
Vuzix Corporation (NASDAQ:VUZI) is followed by two investment firm analysts and both give VUZI stock a “Strong Buy” rating. Their one-year, consensus target price is $10.50. This morning, VUZI stock opened at $4.65 which is only $0.15 higher that its 52-week low of $4.50. VUZI had a 52-week high of $8.70 – established almost exactly one year ago.
Over the past year VUZI shares have lost almost 20% of their value. Year-to-date, the shares are down an even larger 27%. But in the last week, the market appears to be viewing the stock with more favor and, as a result, VUZI shares are up almost 7% during that period.
Vuzix Corporation (NASDAQ:VUZI) has seen expanding EPS losses and weaker sale over the past three years. EPS in 2014 was a loss of (-$0.75). That per share loss expanded to (-$1.23) by 2016. Sales were $3 million in 2014, but dropped to $2.1 million by 2016.
In the meantime, the shares have been diluted every year. In 2012 there were 3.54 million shares outstanding. That number stood at 16.91 million by the end of 2016.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.