Chardan Capital Thinks Vuzix Corporation’s Stock is Going to Recover

By Ryan Adsit

In a report released today, James McIlree from Chardan Capital reiterated a Buy rating on Vuzix Corporation (VUZIResearch Report), with a price target of $10. The company’s shares closed yesterday at $2.53, close to its 52-week low of $2.31.

McIlree commented:

“We expect the joint development and production agreement could take 18-24 months before a product is brought to market and will be less expensive, brighter and less power hungry than current iterations of smart glasses.”

According to, McIlree is a 1-star analyst with an average return of -3.9% and a 43.9% success rate. McIlree covers the Consumer Goods sector, focusing on stocks such as Foresight Autonomous Holdings Ltd, KEYW Holding, and Arcimoto Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vuzix Corporation with a $8.67 average price target, which is a 242.7% upside from current levels. In a report issued on May 10, Maxim Group also reiterated a Buy rating on the stock with a $8 price target.

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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 $5.37 million.

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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.