Vuzix (VUZI) Breaks Through Moving Averages in a Bullish Manner
Vuzix has grown from 90 patents and patents pending to 166, over the last 36 months
Good day everyone,
We are continuing coverage of Vuzix Corporation (NASDAQ: VUZI), a supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise (more product info below).
Current price $3.90 per share
Outstanding (est.) 39.3 million shares
Float (est.) 30.5 million shares
Insider Holdings 12.99%
Institution Holdings 15.99%
Potential near to mid-term catalysts for VUZI shares:
VUZI shares have crossed their 50 DMA and 200 DMA of $2.60 and $1.95 respectively in a bullish manner.
VUZI has just announced a collaboration with Verizon to service EMTs with a connection to hospitals and doctors via 5G enabled smart glasses.
The company has begun to deliver product on a previously negotiated contract with a major defense contractor.
The potential catalysts listed above are all recent developments in the month of July.
Since bottoming out in mid-March under $1.00, VUZI shares have been on a steady climb to their current pricing over $3.50 per share. The company shares could be headed back to their 2018 levels in the range of $9.00 per share.
VUZI has always been a little bit ahead of the times with their technology, but the times are changing, and the VUZI product line is transcending into the mainstream.
Most of us love our data, screen time, virtual reality, online games, and searches but we currently need to be around a computer, tablet, smartphone, or some manner of screen device. Smart glasses have the potential to eliminate that tether and take us to a new level.
According to Paul Travers, President and Chief Executive Officer of Vuzix, “Worldwide travel restrictions and quarantine requirements related to COVID-19 continue to help expedite purchasing decisions related to smart glasses. Our M400, represents an effective solution to provide business continuity during the new normal.
The company’s M400 has become a benchmark for leading-edge performance in the smart glasses industry. The M400, combined with remote support applications like Vuzix Remote Assist, Zoom, WebEx Teams, Ubimax Frontline and many others, sets the Vuzix product line ahead of the competition. The M400 is now available in 52 countries around the world.
The VUZI patent portfolio has grown from 90 patents and patents pending to 166 over the last 36 months, including a range of IP including waveguides with holographic optics, laser, and micro LED display integration.
Pixee Medical, a France-based medical company, performed the world’s first Knee+ total knee replacement surgery on June 24th using the Vuzix M400 AR Smart Glasses. The Pixee Medical company was founded in 2017 with the goal of creating high-performance, computer-assisted surgical solutions using proprietary computer vision and artificial intelligence technologies. Pixee intends to continue and promote the use of the M400 technology for knee surgeries.
The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards, among others. Vuzix keeps winning these awards because they always present the most innovative technology in their field.
VUZI has a significant insider ownership and an even larger institutional ownership. In 2020 there have been seven insider “buys” totaling 22,750 shares. There have been no insider sales recorded in the past six years. Nine institutions have purchased VUZI shares in 2020 and one institution has sold shares.
5/13/2020 Maxim Group Reiterated Rating Buy
VUZI products include monocular smart glasses for enterprise, industrial, commercial, and medical markets; and blade smart sunglasses for applications ranging from basic text messaging and answering the phone to overlaying mapping directions, menus, weather, events, stock quotes, video conferencing, sports updates, social feeds, bio-metrics, and others. The company is also developing a binocular AR smart glasses product that provides the user a live, direct, or indirect view of a real-world environment. Its AR wearable display devices are worn like eyeglasses or attach to a head worn mount to view, record, and interact with video and digital content, such as computer data, the Internet, social media, and entertainment applications.
We anticipate the company revenues could begin to accelerate as they develop more contracts and increase production. VUZI shares may be at the onset of significant gains as they are the leader in the smart glasses sector, and they produce products that are conducive to our “new normal”.
Full report coming soon,
The Traders News Group
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