Chardan Capital Sticks to Their Buy Rating for Vuzix Corporation (VUZI)

By Ryan Adsit

Chardan Capital analyst James McIlree reiterated a Buy rating on Vuzix Corporation (VUZIResearch Report) today and set a price target of $10. The company’s shares closed yesterday at $3.52.

McIlree wrote:

“We believe that the coming months are critical for the company. Expectations are for a significant acceleration in revenue in the second half as the M series moves from pilots to production deployments and the initial volumes of the Blade becomes a meaningful contributor. However, Vuzix faces competition from Google, which announced a second-gen product that uses an MSRP of $999. Google Glass will be priced at parity to the a significant discount to the M400 list price of $1500, which is scheduled for volume production this summer. Apple is also rumored to be entering the market in the next 24 months.”

McIlree has an average return of 5.8% when recommending Vuzix Corporation.

According to TipRanks.com, McIlree is ranked #3806 out of 5223 analysts.

Vuzix Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $9.

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Based on Vuzix Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6.36 million. In comparison, last year the company had a GAAP net loss of $6.15 million.

Based on the recent corporate insider activity of 15 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.