8 Best Augmented Reality Stocks Under $5 to Buy

3) Vuzix Corporation (NASDAQ:VUZI)

Stock Price as of 18 October: $1.30

Number of Hedge Fund Holders: 11

Vuzix Corporation (NASDAQ:VUZI) is engaged in designing, manufacturing, and marketing smart glasses and augmented reality (AR) technologies and products.

Vuzix Corporation (NASDAQ:VUZI) continues to pursue strategic partnerships and cost management strategies. These include a voluntary payroll reduction and an emphasis on converting smart glass inventory into cash. It remains optimistic about the future, courtesy of its strong intellectual property portfolio and the maturing enterprise market regarding smart glasses. Vuzix Corporation (NASDAQ:VUZI) remains focused on optimizing its waveguide technology, which is critical for the future of smart glasses.

The company has been exploring partnerships with projection engine partners in a bid to enhance user experience. Vuzix Corporation (NASDAQ:VUZI) focuses on reducing deployments in smart glass inventories and seeks licensing opportunities for waveguide technology. Moving forward, the company’s strong IP portfolio and innovation capabilities in the AR space are expected to act as principal tailwinds.

Market experts believe that the company’s waveguide technology offers a strong competitive advantage, providing a comprehensive service in design, production, and integration. The partnership and strategic investment by Quanta Computer focused on manufacturing waveguides at scale and jointly developing new AI smart glasses for broader markets. Vuzix Corporation (NASDAQ:VUZI) continues to explore enterprise market opportunities with Vuzix AI smart glasses, which include Vuzix Z100™.

As per Wall Street, the shares of Vuzix Corporation (NASDAQ:VUZI) have an average target price of  $3.00.