Innovative Eyewear, Inc. (NASDAQ:LUCY) Short Interest Update

by · The Markets Daily

Innovative Eyewear, Inc. (NASDAQ:LUCY – Get Free Report) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 55,176 shares, a growth of 105.2% from the April 30th total of 26,889 shares. Based on an average daily volume of 103,051 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Innovative Eyewear in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Read Our Latest Research Report on LUCY

Innovative Eyewear Stock Down 2.5%

Shares of NASDAQ:LUCY traded down $0.03 during midday trading on Monday, reaching $1.01. 34,146 shares of the company traded hands, compared to its average volume of 1,932,183. Innovative Eyewear has a 12 month low of $0.90 and a 12 month high of $4.97. The firm has a market capitalization of $6.49 million, a price-to-earnings ratio of -0.61 and a beta of 2.66. The firm’s fifty day moving average price is $1.05 and its two-hundred day moving average price is $1.22.

Innovative Eyewear (NASDAQ:LUCY – Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.10. Innovative Eyewear had a negative return on equity of 83.37% and a negative net margin of 272.42%.The business had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.70 million.

Hedge Funds Weigh In On Innovative Eyewear

Institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in shares of Innovative Eyewear by 60.0% during the 4th quarter. Cetera Investment Advisers now owns 341,278 shares of the company’s stock worth $340,000 after acquiring an additional 127,927 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Innovative Eyewear during the third quarter valued at about $45,000. Finally, Virtu Financial LLC bought a new stake in Innovative Eyewear during the fourth quarter worth about $33,000. Institutional investors own 0.96% of the company’s stock.

Innovative Eyewear Company Profile

(Get Free Report)

Innovative Eyewear, Inc develops and sells smart eyeglasses and sunglasses. The company's flagship product is Lucyd Lyte glasses that enable the wearer to listen to music, take and make calls, and use voice assistants to perform various smartphone tasks hands-free. It also offers Vyrb, a social media application that enables the user to receive and send posts through Lucyd Lyte smart glasses with voice. In addition, the company launches an application, Lucyd app for iOS/Android users. It sells its products through various e-commerce, and retail store and distribution channels.

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