What just happened? Vuzix Corporation (NASDAQ:VUZI) stock value has climbed by nearly 4.14% or (0.09 points) to $2.34 from its previous close of $2.25. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 219890 contracts so far this session. VUZI shares had a relatively better volume day versus average trading capacity of 797.08 thousand shares, but with a 29.14 million float and a 13.07% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for VUZI stock indicates that the average analyst price target is $4.5 per share. This means the stock has a potential increase of 92.31% from where the VUZI share price has been trading recently which is between $2.18 and $2.29. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.5.
The shorts are climbing into Vuzix Corporation (VUZI) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in VUZI shares. While short interest still represents only 11.39% of VUZI’s float, the number of shares shorted have risen by 111989. The number of shares shorted advanced to 3320092 shares, up from 3208103 shares during the preceding fortnight. With average daily trading volumes at 517770 shares, days to cover increased to about 3.564286 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Vuzix To Participate in Two Upcoming Investor Conferences” and dated September 09, 2019.
During the recent trading session for Vuzix Corporation (NASDAQ:VUZI), the company witnessed their stock rise $0.21 over a week and surge $0.33 from the price 20 days ago. When compared to their established 52-week high of $7.3, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/09/18. The recent low of $1.77 stood for a -67.9% since 08/09/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.5 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Vuzix Corporation, the two-week RSI stands at 63.21. This figure suggests that VUZI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current VUZI readings is similarly very revealing as it has a stochastic reading of 84.27% at this stage. This figure means that VUZI share price today is being oversold.
Technical chart claims that Vuzix Corporation (VUZI) would settle between $2.3/share to $2.35/share level. However, if the stock price goes below the $2.19 mark, then the market for Vuzix Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $2.13 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.16. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group, assumed coverage of VUZI assigning Buy rating, according to their opinion released on October 28. Chardan Capital Markets analysts again handed out a Buy recommendation to Vuzix Corporation (NASDAQ:VUZI) stock but they lifted target price for the shares in a flash note issued to investors on December 14. The target price has been raised from $7 to $10. Analysts at Rodman & Renshaw, made their first call for the equity with a Buy recommendation, according to a research note that dated back to December 10.
VUZI equity has an average rating of 1, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Vuzix Corporation (NASDAQ:VUZI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, VUZI stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is 150.77. Vuzix Corporation current P/B ratio of 3.14 means it is trading at a premium against its industry’s 2.31.