Stock News Buzz: Vuzix® Corporation (NASDAQ:VUZI)

On Thursday Vuzix® Corporation (NASDAQ:VUZI) stock traded volume of 306124 shares during its last trading session as compared to its average volume of 179141 shares over the recent month. VUZI ended its day with the down stream along the move of -2.95% and closed at the price of $2.3 before opening at $2.4. It has total market capitalization is $76092324. 52 week range of the stock remained $ 1.77 – 6.59 while its day lowest price was $2.23 and its hit its day highest price at $2.46

On Nov. 7, 2019, Vuzix® Corporation (NASDAQ:VUZI) a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, released its third quarter results for the period ended September 30, 2019.

Third Quarter 2019 Highlights

  • Received regulatory approval for Vuzix’ M400 Smart Glasses, began ramping production and shipping product in late September
  • Started on-shoring all M-Series manufacturing capabilities from China back to the Company’s West Henrietta, NY facility, which is expected to reduce the overall manufacturing cost profile of these products
  • Received a follow-on smart glasses order and adoption of the M400 Smart Glasses from 1Minuut Innovation for healthcare industry deployments in Europe
  • Vuzix Smart Glasses were showcased at DHL’s Americas Innovation Center grand opening
  • Implemented numerous waveguide manufacturing process improvements and installed new equipment, including purpose-built robots, that have begun to demonstrate consistent yield improvements to better fulfill current Vuzix Blade order backlog and anticipated new programs that are expected to go live in the coming months
  • Continued emphasis on expense management is beginning to realize tangible results with period over period decreases in all broad categories, including R&D, S&M and G&A

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