By Pablo Erbar
Following a successful start to 2017, senior management reinforced its bullish stance towards Vuzix Corporation (NASDAQ:VUZI), disclosing the acquisition of shares on January 20. According to the latest SEC Form 4 Filing, CEO Paul Travers purchased 2,750 shares at $6.55 each, amounting to approximately $18,000 worth of stock.
The transaction saw the founder of Vuzix Corporation (NASDAQ:VUZI) bring his total holdings in the company to 2.55 million shares. The recent insider buying indicates strong commitment on behalf of insiders and optimism regarding the firm’s future outlook.
The transaction should come as little surprise in light of recent headlines. Management was already optimistic regarding its future when it announced the finalization of the European Union’s emissions certification process for the latest version of its M3000 enterprise-grade smart glasses in December 2016. According to a recent press release, the M3000 features “advanced 2.0 mm thin see-thru waveguide optics and a custom high-contrast, full-color DLP ‘Cobra II’ display engine.” As reported earlier this month, Vuzix’ latest development made waves at the CES 2017. Shortly thereafter, the company announced the finalization of the certification process and commencement of commercialization.
Naturally, the leading supplier of smart glasses, augmented reality, and virtual reality products was certainly looking forward to the first shipment of M3000s into the U.S, due in the first quarter of 2017. By increasing his stake in Vuzix Corporation (NASDAQ:VUZI), CEO Paul Travers contributed to bolstering the optimistic outlook regarding the future performance of his company even further.
Disclosures: The author, Pablo Erbar, holds no interest in any of the securities or entities mentioned above. He has not received compensation for this article, other than from Small Cap Nation. The statements above do not constitute recommendations. The article has been based on publicly available information, and seeks to be unbiased and non-promotional.