Market Overview

Why '16 Will Be A Year Of Major New Product Introductions For Vuzix

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  • Shares of Vuzix Corporation (NASDAQ: VUZI) were volatile in 2015 and are up 45 percent year-to-date.
  • Chardan’s James Mcilree maintained a Buy rating on the company, with a price target of $7.
  • The company is on the brink of a new product cycle and poised for robust sales growth, Mcilree stated.

A recent meeting with management revealed that Vuzix will ship iWear soon, which is expected to boost the company’s sales growth over the next few quarters, analyst James Mcilree said. The company also informed that the second half of the year will see the availability of M300, M3000 and a wireless version of iWear.

Mcilree expects these introductions to boost Vuzix’s revenue growth in the second half of 2016 and into 2017. The company would benefit from its relationship with Intel Corporation (NASDAQ: INTC) in terms of additional sales and revenues.

The products from the partnership will also be a key endorsement of Vuzix’s technology. The Chardan report added that a key catalyst for the company’s shares could be the Consumer Electronics Show and the products displayed there, early next year.

Vuzix had $16 million in cash at the end of 3Q, which equals 18-24 months runway at its current burn rate. “Given the new products we expect next year and the acceleration in revenue, we think the company’s operating results, cash position and ability to access additional growth capital will change dramatically in the coming quarters,” Mcilree stated.

Latest Ratings for VUZI

DateFirmActionFromTo
Mar 2018Maxim GroupMaintainsBuyBuy
Jan 2018Maxim GroupMaintainsBuyBuy
Oct 2016Maxim GroupInitiates Coverage OnBuy

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