Potential Value Indicated in Vuzix (VUZI) Shares
Revenues and product development are on fire
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.
Current price $3.75 per share
Outstanding (est.) 39.3 million shares
Float (est.) 34.6 million shares
Insider Holdings 12.99%
Institution Holdings 15.99%
It has been six weeks since we last talked about Vuzix. We wanted to talk about the company again because the share price has consolidated, and the potential catalysts have been coming fast and furious. This is great news for our members as the shares look to be priced in value range and the outlook for the company keeps improving.
It was just on July 20, 2020 that VUZI shares reached $4.93 per share.
In the past six weeks, since we last reported on VUZI, the company has issued nine press releases announcing new developments in the process of bringing their M400 smart glasses to a broader market. We have described and linked them at the end of this newsletter.
What we like about VUZI:
Share price is 30% off recent high
Small share structure
Revenue gains in triple digits (QoQ)
Leader in innovative smart glasses technology
High Insider and institutional ownership
Finding customers in many industry segments
Make no mistake, VUZI may not be the biggest company making smart glasses, but in our opinion, they are the innovators in the field, marketing the best high-tech products available. That could also be the opinion of their customers and development partners.
According to the company, “healthcare has emerged as an important business segment for Vuzix, including telemedicine and telehealth solutions related to patient care, training and surgery, as well as supporting healthcare companies like medical device manufacturers that have active equipment installations in hospitals and medical facilities.”
All the developments mentioned above, and below, are potential catalysts for VUZI shares. They indicate growing product acceptance in multiple markets and the possibility of rapidly growing revenues.
Vuzix Smart Glasses revenues for the second quarter increased 183% year-over-year.
Revenues for the FYE 12-31-19 were $6.6 million. Revenues for Q2 2020 were $3.03 million. Q2 revenues were double Q1 2020 revenues and if we annualize the Q2 revenues into a pro-rata number, we can see revenues at $12 million, representing a 100% gain in the top line.
Paul Travers, President and CEO of Vuzix stated, “Our third quarter is off to a strong start in terms of smart glasses revenue through the first month of the quarter and is continuing the acceleration reflected in our most recent quarter’s sales. As a result, we believe we are in position to deliver continued growth in the third quarter and over the remainder of 2020.
8/5/2020 Bradley Woods Reiterated Rating Buy
5/13/2020 Maxim Group Reiterated Rating Buy
We note in the chart linked below that VUZI shares remain above their 50 DMA and 200 DMA of $3.53 and $2.32, respectively. Crossing these daily averages can indicate bullish investor sentiment.
https://stockcharts.com/h-sc/ui?s=VUZI
We hope you keep a focus on the fact that VUZI is the leader and the innovator in the smart glasses sector. No one else is making the strides in product development that VUZI is.
Here is a review of the news from VUZI just since we last reported to you six weeks ago:
The company will host a webinar with University of Louisville School of Medicine to discuss smart glasses usage in healthcare. https://finance.yahoo.com/news/vuzix-host-webinar-university-louisville-181500709.html
The company will be presenting at the LD 500 Virtual Conference being held on September 1-4, 2020. https://finance.yahoo.com/news/vuzix-present-ld-500-virtual-190000571.html
e-Sense, now available for purchase or rent, is a collaborative effort between Rozetta Corp. and Tobishima Corporation, a global construction firm. e-Sense uses Vuzix M400 Smart Glasses to provide automatic simultaneous interpretation, remote communications and support and the recording of voice, text, images, and video. Japanese, English, and Vietnamese translation will be initially supported with other languages to be added over time. https://finance.yahoo.com/news/rozetta-corporation-selects-vuzix-smart-190000051.html
Vuzix’ M400 Smart Glasses are now supported by CARE4D’s Telepresenz®, a HIPAA compliant augmented reality telepresence solution that connects remote users to mentors, experts, or supervisors across healthcare and industry. https://finance.yahoo.com/news/vuzix-expands-hipaa-compliant-healthcare-191500223.html
The Vuzix M400 smart glasses market footprint has expanded to 54 countries. It is being used across almost every industry ranging from warehousing and logistics, field service, manufacturing, healthcare, inspection, and real estate. The global pandemic caused by COVID-19 has accelerated the deployment of new technology such as Vuzix Smart Glasses. https://finance.yahoo.com/news/vuzix-m400-smart-glasses-market-170000006.html
VUZI announced the support of mobile device management applications Microsoft Intune and MobileIron Core and MobileIron Cloud for use with Vuzix M400 Smart Glasses. The Vuzix M400 is now supported by growing number of leading mobile device management software platforms including Microsoft Intine, MobileIron, VMWare Airwatch, SOTI MobiControl and 42Gears Sure MDM. https://finance.yahoo.com/news/vuzix-adds-microsoft-intune-mobileiron-132500388.html
Optus, one of Australia’s leading wireless services providers, recently released video results of its OPTU5G network case study centered around the Vuzix M400 Smart Glasses and Vuzix Remote Assist, the Company’s video collaboration SaaS offering. https://finance.yahoo.com/news/australian-telecomm-optus-showcases-power-144800897.html
A team of doctors is successfully using the Vuzix M400 Smart Glasses to perform gastrointestinal surgeries on patients at a leading hospital based in Barcelona, Spain. Dr. Díaz Del Gobbo performed a sleeve gastrectomy procedure, while streaming the surgery via the Vuzix M400 and connecting with a team of doctors in Miami, FL, who attended the surgery virtually. https://finance.yahoo.com/news/barcelona-hospital-surgeons-now-using-184500778.html
Vuzix has formalized a collaborative partnership and resale relationship with ProGlove, an industry wearables leader. The combined solution, consisting of ProGlove’s MARK product family of wearable barcode scanners and Vuzix’ latest smart glasses for business, offers enterprise productivity gains. https://finance.yahoo.com/news/vuzix-proglove-partner-offer-combined-132700151.html
We will be back with more on VUZI soon,
The Traders News Group
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