Innovative Eyewear (NASDAQ:LUCY) Stock Price Down 1.7% – What’s Next?

Innovative Eyewear, Inc. (NASDAQ:LUCY) fell 1.7% on Thursday . The company traded as low as $1.70 and last traded at $1.72. 50,708 shares changed hands during trading, a decline of 65% from the average session volume of 144,673 shares. The stock had previously closed at $1.75.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Innovative Eyewear in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Innovative Eyewear Stock Down 1.7%

The stock has a market cap of $5.68 million, a PE ratio of -0.62 and a beta of 3.18. The company has a fifty day moving average price of $1.92 and a 200 day moving average price of $2.14.

Innovative Eyewear (NASDAQ:LUCY) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.11. The firm had revenue of $0.58 million for the quarter, compared to the consensus estimate of $1.00 million. Innovative Eyewear had a negative return on equity of 79.72% and a negative net margin of 390.70%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Innovative Eyewear stock. Cetera Investment Advisers bought a new position in Innovative Eyewear, Inc. (NASDAQ:LUCY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 156,096 shares of the company’s stock, valued at approximately $331,000. Cetera Investment Advisers owned 3.41% of Innovative Eyewear as of its most recent SEC filing. Institutional investors own 0.96% of the company’s stock.

About Innovative Eyewear

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.