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Tag: VUZI

  • Vuzix Corporation (VUZI) stock is losing in the pre-market. Here’s why

    Vuzix Corporation (VUZI) stock is losing in the pre-market. Here’s why

    The stock of Vuzix Corporation (VUZI) closed the recent trading session at $5.68, gaining 3.84% from the previous trading session. VUZI stock declined in the after-market, losing 1.06% to $5.62, in the after-market. The stock kept moving between $4.89 and $5.70 during the regular trading session. Vuzix published the fiscal performance for Q4 and FY21. The firm also filed for form 10-K with the SEC. The form refers to the annual report of the firm.

    VUZI’s key financials

    Vuzix Corporation published the fiscal performance for Q4 and FY21, on 1 March 2022. The key components of the performance are

    • VUZI’s sales dropped by 21.7% in the Q4 of FY21 to $3.3 million from $4.2 million in the same year-ago period. Also, yearly sales were up by 13.6% in 2021 to $13.1 million from $11.5 million in 2020.
    • The firm had a total profit of $0.20 million in Q4 of FY21 versus $0.70 million in the same period of last year. This marks a reduction of 70.2%. Further, yearly profit expanded by 27.1% in 2021 to $2.4 million from $1.9 million in 2020.
    • The total loss grew by 373.7% from $3.5 million in Q4 of FY20 to $17.01 million in Q4 of FY21. Moreover, yearly loss also expanded by 124.9% from $17.9 million in 2020 to $40.3 million in 2021.
    • Loss of $0.27 and $0.66 per stock in Q4 and FY21, respectively.

    The CEO of Vuzix, Paul Travers, commented that it was the year of huge headway for them concerning industry validation and organizational growth. He further added that they effectively began their sales channel, which drove the growth of AR before new clients.

    Moreover, Mr. Travers concluded that they have made a strong monetary record, as they grow their capacities and worldwide impression to fulfill the needs of customers.

    News

    On 2 March 2022, VUZI declared the buyback program of their shares approved by the BoD. The amount of buyback under the program is $25 million. The program expired on 2 March 2022. Further, under the program of shares buyback, stocks of the firm might be repurchased intermittently in the open market or private exchanges. Moreover, established by the closing price of Vuzix’s stock on 1 March 2022, the program would empower the organization to repurchase roughly 4 million stocks or around 6% of its shares.

    About VUZI

    Vuzix Corp. is a provider of Smart-Glasses and AR advancements and items for the buyer. The company has a market cap of $261.42 million with 63.63 million pending shares. Vuzix has its headquarter in West Henrietta, New York, United States of America (USA).

  • Why Vuzix Corporation (VUZI) Stock Was Up and Then Down Today

    Why Vuzix Corporation (VUZI) Stock Was Up and Then Down Today

    Vuzix Corporation (NASDAQ: VUZI) stock recently traded at $26.32 which is a 14.19% upward movement. The VUZI stock previously closed at $23.05. However, in the after-hours trading session, VUZI plunged by 12.99% at the time of writing.

    The recent negative movement in the stock comes adjacent to the announcement made by Vuzix for proposing of an underwritten public offering of common stock.

    Vuzix is a leading supplier of Smart Glasses

    Vuzix(VUZI) is a consumer electronics company specifically focusing on Augmented Reality technologies. It is a lead supplier of Smart Glasses that can automatically provide the wearer information on the focused object seen through the Smart Glasses. The glasses can also make facial recognitions, offer a high-quality viewing experience, and provide maps for mobility and wearable augmented display. All of Vuzix’s AR tech products are patented or in the process of being patented which becomes a total of 184.

    What could prompt VUZI stock to propose underwritten public offering?

    Vuzix Corporation (VUZI) announced today that it is planning to offer its shares of common stock for a sale proposal in the manner of the underwritten public offering. In this offering, the shareholder and investor can exercise the Company –given right to have a 30-day option for purchasing up to an additional 15% of the number of shares. These additional shares will be issued and sold in the same underwritten conditions and terms.

    The reason for this proposal is because the company will use the net proceeds for its expansion and operational growth; accelerating production of finished goods, acquisition of firms, R&D, and increasing workforce.

    Vuzix received a $250,000 order for M400 Smart Glasses

    Vuzix stock was already performing fundamentally strong; its overall outlook for 2021 shows financial and operational stability. This is especially true since the recent development that just came yesterday in the form of an initial smart glasses deployment order. This order came from a Healthcare and surgical training provider which totals an amount of $250,000 for Vuzix M400 Smart Glasses. These smart glasses will be used in the healthcare facility by surgeons, doctors, medical students, medical professors, and medtech experts.

    Healthcare industries are usually first to invest and adopt smart technology to enhance their ever-needed health facilities and provision optimum care to the patients. This is why Vuzix can expect to expand the orders of Vuzix M400 for the healthcare and medical training provider in the future.

    The path of growth ahead is clear for the Smart Glass supplier

    Vuzix stock is already showing a positive pattern due to the popularity of Vuzix M400 in the healthcare market since the past year. The additional stock offering could then suggest that the company is exceeding its initial projection of growth for 2021 and is going big. This is good news for investors even in the long run as Vuzix stock continues to soar.

  • 7 Stocks In Consumer Electronics Industry You Can’t Ignore In 2020

    7 Stocks In Consumer Electronics Industry You Can’t Ignore In 2020

    Consumer Electronics include smartphones, cameras, game consoles, GPS navigators and video media, etc and this industry generated profit through the sale of these products. With the evolution of new technology, the demand for these products also increases. Consumers want a wide range of new products with more capabilities and expanded services and installations.

    The consumer electronics industry is expected to show positive growth because of the new trends and technological innovations in the technology sector. This industry is following various new trends to keep pace with the fast-growing market. One of the trends is 5G technology which promised to be much faster in terms of speed of the internet. This technology is also helpful for people living in areas that areas where they have very poor or weak 4G coverage.

    Let take a look at how this industry is using new technology to meet the needs of consumers:

    Apple Inc. (NASDAQ: AAPL)

    Apple Inc. (NASDAQ: AAPL) shares were trading down -5.60% at $108.86 at the time of writing on Friday. Apple Inc. (NASDAQ: AAPL) share price went from a low point around $53.15 to briefly over $137.98 in the past 52 weeks, though shares have since pulled back to $108.86. AAPL market cap has remained high, hitting $1972.26B at the time of writing, giving it a price-to-sales ratio of more than 7. If we look at the recent analyst rating AAPL, Atlantic Equities resumed coverage on AAPL shares with an Overweight rating and a $121.77 price target, which implies room for 12.91% upside momentum this year.

    Sonos Inc. (NASDAQ: SONO)

    Sonos Inc. (NASDAQ: SONO) last closed at $14.60, in a 52-week range of $6.58 to $17.83. Analysts have a consensus price target of $16.43. Sonos Inc. revealed that it has decided to release its financial results for the fourth quarter and fiscal year ended October 3, 2020, on November 18, 2020. SONO market cap has remained high, hitting $1.69 B at the time of writing.

    Vuzix Corporation (VUZI)

    Vuzix Corporation (VUZI) stock drop by -2.72% to $3.94. The most recent rating by Alliance Global Partners, on May 11, 2020, is at a Neutral. Vuzix Corporation (VUZI) earlier disclosed that it has decided to host a conference call regarding its third quarter 2020 operating results at 4:30 PM Eastern Time (ET), November 9, 2020.

    GoPro Inc. (NASDAQ: GPRO)

    GoPro Inc. (NASDAQ: GPRO) shares headed falling, lower as much as -2.78%. The most recent rating by Citigroup, on March 16, 2020, is at a Sell. GoPro Inc. (GPRO) has announced earlier that it is scheduled to release its financial results for the third quarter ended September 30, 2020, after the market closes on November 5, 2020. GPRO market cap has remained high, hitting $964.30 million at the time of writing.

    Sony Corporation (NYSE: SNE)

    Sony Corporation (NYSE: SNE) rose 0.28% after gaining more than $0.23 on Friday. Sony Corporation (SNE) is reportedly in final talks with AT& T to buy U.S. animation-streaming service Crunchyroll in a deal worth more than 100 billion yen ($957 million), the Nikkei business daily reported on Friday.

    iRobot Corporation (NASDAQ: IRBT)

    iRobot Corporation (NASDAQ: IRBT) last closed at $79.58, in a 52-week range of $32.79 to $98.55. Analysts have a consensus price target of $92.20. iRobot Corporation (IRBT) share price went from a low point around $32.79 to briefly over $98.55 in the past 52 weeks. IRBT market cap has remained high, hitting $2.27 Billion at the time of writing.

    Turtle Beach Corporation (NASDAQ: HEAR)

    Turtle Beach Corporation (NASDAQ: HEAR) stock drop by -5.56% to $18.02. The most recent rating by Stifel, on September 30, 2020, is at a Buy. Turtle Beach Corporation (HEAR) and its Hamburg, German-based PC brand ROCCAT, earlier revealed their line-up of brand ambassadors coming together to stream for the Gamers Outreach charity.