The stock of Vuzix Corporation (NASDAQ:VUZI) is now priced at $3.84 and the shares are 0.15 points up or 4.07% higher compared to its previous closing price of $3.69. The stock had 1.154 million contracts set over the past session. VUZI shares’ daily volume is compared to its average trading volume at 1.984 million shares. However, it has a float of 34.66 million and although its performance was -10.9% over the week, it’s one to watch. Analysts have given the VUZI stock a yearly average price target of $6.17 per share. It means the stock’s upside potential is 60.68% with the VUZI share price recently placing at $3.6501 to $3.95. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are climbing into the Vuzix Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the VUZI shares have risen. Short interest in the stock represents just 11.62% of its float, but the volume has raised by 235830. The volume of shorted shares rised to 4.027 million from 3.791 million shares over the last two weeks. The average intraday trading volume has been 1.326 million shares, which means that days to cover moved to roughly 3.03753.
In the last trading session, Vuzix Corporation (NASDAQ:VUZI) dropped by -$0.47 over the week and lost -$0.28 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.93. The stock recorded its established 52-week high on 07/20/20.
Since 03/16/20, the stock has traded to a low of $0.86 at 346.51%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.17. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Vuzix Corporation’s two-week RSI is 55.36. This suggests that the stock is neutral at the moment and that VUZI shares’ price movement remains stable. The stochastic readings are equally revealing at 45.76% meaning the VUZI share price is currently in neutral territory.
The technical chart shows that the VUZI stock will likely settle at between $3.98 and $4.11 per share. However, if the stock dips below $3.68, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.51.
Currently, the stock is trading in the green of MACD, with a reading of 0.04. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Alliance Global Partners cut their recommendation for VUZI from Buy to Neutral in May 11 review. Maxim Group analysts see the stock as a Buy with a target price of $11 in a flash note released to investors on October 28 initiating covering the stock. Chardan Capital Markets analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on December 14, placing it at $10 from $7.
The average rating for the VUZI equity is 2.33 and is currently gathering a bullish momentum. Of 4 analysts tracking Vuzix Corporation polled by Reuters, 1 rated VUZI as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 36.2. Vuzix Corporation has its P/E ratio at 5.7, which means that the stock is currently trading at a discount relative to the 16.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Vuzix Corporation (NASDAQ:VUZI) will decrease by about -99.9%, which will see them reach $3.16 million. The company’s full-year revenues are, however, expected to increase by about 73.61%, up from $6.67 million to $11.58 million. VUZI’s expected adjusted earnings should drop almost -27.78% to end up at -$0.13 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -29.11% to record -$0.56/share.