Shares of Vuzix Corporation (NASDAQ:VUZI) are up big today, much of which came after the company released news of a partnership they have formed with Atheer.
Vuzix Corporation (NASDAQ:VUZI), who is a supplier of smart glasses and other video eyewear products, has partnered with the pioneer of AiR (Augmented Interactive Reality) computing to allow their M100 Smart Glasses to support Atheer’s AiR Suite.
Investors apparently are reacting very positively to the news, but also there have apparently been some stock pumping going on today as well for shares of VUZI.
“The M100 Smart Glasses can enhance workflows for companies in a broad range of sectors,” said Paul Travers, President and Chief Executive Officer of Vuzix. “Atheer’s AiR suite is well aligned with the enterprise class productivity and collaboration capabilities that our customers expect from our devices. We’re looking forward to an ongoing relationship that will benefit both of our companies to provide a world-class enterprise solution.”
The stock is up 15.17% or $1.09 following the news, hitting $8.28 per share. About 1.10 million shares traded hands or up 525.13% from the average. VUZI has risen 22.91% since May 27, 2015 and is currently uptrending. It has outperformed the S&P500 by 25.03%.
From a total of 3 analysts covering Vuzix (NASDAQ:VUZI) stock, 3 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $10.0 while the lowest target price is $7.0. The mean of all analyst targets is $10 which is 20.77% above today’s ($8.28) stock price. Vuzix was the topic of 6 analyst reports since August 17, 2015 according to the firm StockzIntelligence Inc. Chardan Capital Markets maintained shares on December 14 with a “Buy” rating. Rodman & Renshaw initiated VUZI stock in a recent report from December 10 with a “Buy” rating.
The institutional sentiment decreased to 1.33 in Q2 2015. It’s down 1.17, from 2.5 in 2015Q2. The ratio dived, as 3 funds sold all their Vuzix Corporation shares they owned while 6 reduced their positions. 7 funds bought stakes while 5 increased their total positions. Institutions now own 949,332 shares which is 42.59% more than the previous share count of 665,795 in 2015Q2.
Akanthos Capital Management Llc holds 2.8% of its total portfolio in Vuzix Corporation, equating to 395,200 shares. Bluefin Trading Llc owns 36,007 shares representing 0.01% of their total US portfolio. Moreover, Springbok Capital Management Llc has 0.01% of their total portfolio invested in the company, equating to 8,900 shares. The California-based Blackrock Fund Advisors has a total of 0% of their portfolio invested in the stock. Blackrock Institutional Trust Company N.A., a California-based fund reported 86,662 shares owned.
Since September 8, 2015, the stock had 3 insider buys, and 0 sales for a total of $35,855 in net activity. Russell Grant bought 3,500 shares worth $16,750. Travers Paul J bought 2,750 shares worth $11,605.
Vuzix Corporation designs, manufactures, markets, and sells wearable display devices in the United States and internationally. The companyÂ’s products are worn like eyeglasses that enable the user to view video and digital content, such as movies, computer data, the Internet, or video games through various mobile electronic devices, such as cell phones, laptop computers, tablets, portable media players, and gaming systems. Its products include binocular video eyewear devices comprising two micro displays mounted in a frame attached to eyeglass-style temples; wrap series video eyewear; and noise canceling audio headphones with an HD video visor that creates a wearable home theater experience. The company also offers monocular video eyewear products, including M2000 augmented reality (AR) waveguide based products, which are used for training, manufacturing, maintenance, and other hands-free applications in the industrial sector; and M100, which are monocular pair of smart glasses. In addition, it provides virtual reality products that provide the user with 3D computer simulated environments, which simulate the real or an imaginary world; and AR products, including Wrap 920AR and STAR 1200, which provides a user a live, direct or indirect, view of a physical and real-world environment whose elements are augmented by computer generated sensory input, such as sound, video, graphics, or GPS data. Vuzix Corporation sells its products under the Vuzix Wrap brand name through specialty retailers, catalogue offerings, third party distributors, and resellers, as well as through its Web stores and Websites. The company was formerly known as Icuiti Corporation and changed its name to Vuzix Corporation in 2007. Vuzix Corporation was founded in 1997 and is based in Rochester, New York.