What's Going On With Vuzix Stock Monday?

Vuzix Corp VUZI shares are trading lower Monday after the company filed for a mixed shelf offering.

What Happened: After the market close on Friday, Vuzix announced that it may from time to time sell common stock, preferred stock, warrants, or a combination of securities in one or more offerings for an aggregate initial offering price of up to $300 million.

Vuzix said it may offer the securities directly or through agents or to or through underwriters or dealers. The company said it will provide an additional prospectus describing the terms if it offers securities through agents, underwriters or dealers.

Vuzix is a designer, manufacturer and marketer of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets.

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Is VUZI A Good Stock To Buy?

Wall Street analysts view Vuzix on the whole as a Buy, given the history of coverage over the past three months. Christian Schwab from Craig-Hallum is the most bearish, expecting a 41.67% fall in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Vuzix fell 36.48%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which fell 36.39% over the past year.

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VUZI Price Action: Vuzix shares were down 7.14% at $1.56 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Vuzix.