First, VUZI shares are trending. It started a month ago and they have continued an uptick ever since. The company stock chart shows the trend line in the share price. VUZI shares have broken through their 200 DMA of $3.11 and their 50 DMA of $4.19 in a bullish manner. All levels of the Simple Moving Average are green.
We believe the trend in the company shares may lead to a near term breakout because of the second reason we are reporting today; the company has expanded in terms of sales and technology, is working with dozens of the biggest companies in the US on product development and has become more entrenched in the medical sector.
Let’s review recent development at VUZI that we believe are contributing to the trend in the company’s shares:
Revenues for the first three quarters of 2020 are $7.34M. Sales for the FYE December 31, 2019 were $6.67M. The analysts are projecting revenues for FYE 2021 at $18.2M.
Last week, CH Four Biogas began using Vuzix M400 Smart Glasses to assist field operators performing plant inspections remotely. The ability to use smart glasses for site inspection could save the company time and travel expenses over the current method of sending inspectors to remote construction sites.
Back in August, we reported that Pixee Medical, a France-based medical company, had performed the first knee replacement utilizing VUZI M400 Smart Glasses. Pixee has now completed 40 knee replacements utilizing M400 Smart Glasses. They are buying more units.
Vuzix made changes to improve a more comfortable use of Zoom Video Communications Inc. through its Zoom Connector app. The app provides the Smart Glasses with voice control which allows users to enter meetings by using their voice, voice-to-text dictation.
Vuzix has recently received multiple follow-on orders for M400 Smart Glasses from Dutch medical services company, 1Minuut Innovation. “1Minuut is trailblazing within the health care industry through the creation and evolution of their Genzõ mobile platform and now with our M400 Smart Glasses, to deliver new telemedicine experiences,” said Paul Travers, Vuzix President and Chief Executive Officer.
“The COVID-19 pandemic has become a catalyst for much broader acceptance of enterprise smart glasses, resulting in shorter evaluation periods and increased customer adoption,” said Paul Travers, President, and CEO of Vuzix.
When you do your due diligence, you can discover several more recent developments in the VUZI M400 Smart Glasses program.
Vuzix has 179 patents and patents pending. The Company won Consumer Electronics Show (CES) awards for innovation from 2005 to 2020, fifteen years in a row.
The Blade AR is one of the best moves toward mainstream AR glasses we’ve seen yet. The best bit? Vuzix has worked to lower the price from the original $1800 down to below $1,000, just like it said it would. -source wareble.com
We will have an updated report on Vuzix soon.
Stay tuned and stay informed,
The Traders News Group
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