Vuzix price target lowered to $3.50 from $6 at Craig-Hallum

Craig-Hallum analyst Christian Schwab lowered the firm’s price target on Vuzix to $3.50 from $6 and keeps a Buy rating on the shares. The firm notes Vuzix pre-released its Q4 revenue to be $2.1M, which was below both its and the Street’s expectations. Management stated while both smart glasses products and OEM services are experiencing lumpy orders, they remain optimistic about the company’s long-term prospects.