Skip to main content

Market Overview

Chardan: Watch Wearable Maker Vuzix Into CES

Chardan: Watch Wearable Maker Vuzix Into CES

Vuzix Corporation (NASDAQ: VUZI) has recently raised $14 million in an equity offering. The company is heading into the CES (Consumer Electronics Show) with a robust balance sheet as well as “a broad and expanding product line,” Chardan Capital Markets’ James McIlree said in a report. He maintains a Buy rating on the company, with a price target of $10.

Following the equity raise, financing risk for Vuzix has dissipated for at least 12 months, allowing the company to “focus on product and market development of its industry leading portfolio,” McIlree noted.

Product Line

Vuzix has made significant progress in the development of its M300 product, and its volume shipments in the United States and Europe would likely drive revenue growth next year.

“The company believes the market for the M300 is “at least” 10 times larger than the M100 and the roll-out of the M300 will be much faster than the M100 because of the greater reach of the company’s distribution and a more evolved ecosystem of applications,” McIlree wrote.

The analyst estimated the installed base of M100 at about 5,000 units, which means that a size of ten times for M300 would be about 50,000 units, equating to more $60 million.

Vuzix is scheduled to launch the M3000 and Blade 3000 in 2017. Both these products use the company’s “waveguides,” “which enable a form factor more akin to eye-glasses, and we believe this will unlock a significantly larger market than the M300,” McIlree added.

The upcoming CES event will be held in Las Vegas from January 5 through 8.

Image Credit: By The Conmunity - Pop Culture Geek from Los Angeles, CA, USA (CES 2012 - Vuzix) [CC BY 2.0], via Wikimedia Commons

Latest Ratings for VUZI

Mar 2021Maxim GroupDowngradesBuyHold
Feb 2021BTIGInitiates Coverage OnBuy
Mar 2018Maxim GroupMaintainsBuyBuy

View More Analyst Ratings for VUZI
View the Latest Analyst Ratings


Related Articles (VUZI)

View Comments and Join the Discussion!

Posted-In: Analyst Color Long Ideas News Previews Reiteration Events Analyst Ratings Tech Best of Benzinga

Latest Ratings

ATUSB of A SecuritiesDowngrades38.0
CNIVertical ResearchUpgrades
LINVertical ResearchUpgrades330.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at