Vuzix Corporation Receives a Buy from Maxim Group

In a report released today, Brian Kinstlinger from Maxim Group reiterated a Buy rating on Vuzix Corporation (NASDAQ: VUZI), with a price target of $11. The company’s shares opened today at $5.55.

Kinstlinger wrote:

“During 3Q17, we estimate 750-1,000 M300 smart glasses had problems with the molded plastic. However, management indicated that its tier 1 manufacturing partner has fixed the problem.”

According to TipRanks.com, Kinstlinger is a 2-star analyst with an average return of 0.6% and a 48.4% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Applied DNA Sciences, and Caci International.

Vuzix Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $11.

Based on Vuzix Corporation’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.33 million and GAAP net loss of $4.07 million. In comparison, last year the company earned revenue of $582.5K and had a GAAP net loss of $5.04 million.

Based on the recent corporate insider activity of 12 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 wearable display devices. Its products include smart glasses, augmented reality glasses, and virtual reality glasses. The company was founded by Paul J. Travers in 1997 and is headquartered in New York, NY.

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