Vuzix Bags $500K Order For Its Smart Glasses From Augmex: Retail Turns Bullish Despite Stock Decline
Augmex, a Netherlands-based company, will integrate its software solutions with Vuzix’s smart glasses for its supply chain customers in the UK and Europe.
Vuzix Corp. (VUZI) announced on Tuesday that it received an order worth $500,000 for its artificial intelligence-powered (AI) smart glasses from Augmex.
The company’s shares plunged nearly 5% in Tuesday’s regular trading session and were flat during the after-market hours, but retail investors were still optimistic about the company.
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Vuzix is a New York-based company that designs, manufactures and markets AI-powered smart glasses, waveguides, and augmented reality (AR) technologies.
Some of its products include head-mounted smart personal displays and wearable computing devices.
This is Augmex’s second order from Vuzix – it had earlier bought smart glasses in a purchase worth low six figures in December.
Augmex, a Netherlands-based company, will integrate its software solutions with Vuzix’s smart glasses for its supply chain customers in the UK and Europe.
"Augmex has become an important new partner for Vuzix in the European marketplace as their focus on simplicity and ease of use with their packaged solution allows their customers to seamlessly integrate smart glass technology into their operations," said Paul Travers, President and CEO of Vuzix.
Retail investors on Stocktwits brushed aside the 5% drop in Vuzix stock on Tuesday, with sentiment turning ‘bullish’ from ‘bearish’ a day ago.
One bullish investor called it an “impressive order.”
Another thinks Augmex could be a million-dollar customer this year.
Data from Koyfin shows the average price target for Vuzix is $3.00, implying an upside of 55% from Tuesday’s closing price.
There is one brokerage recommendation with a ‘Buy’ rating.
Vuzix stock is down nearly 51% year-to-date.
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