Innovative Eyewear (NASDAQ:LUCY) Posts Earnings Results

Innovative Eyewear (NASDAQ:LUCY) posted its quarterly earnings data on Thursday. The company reported ($0.38) earnings per share (EPS) for the quarter, Zacks reports. Innovative Eyewear had a negative net margin of 390.70% and a negative return on equity of 79.72%.

Innovative Eyewear Price Performance

NASDAQ LUCY traded down $0.23 on Thursday, reaching $1.54. 640,437 shares of the company’s stock traded hands, compared to its average volume of 1,075,452. The stock has a market cap of $5.08 million, a PE ratio of -0.55 and a beta of 3.17. Innovative Eyewear has a 12 month low of $1.44 and a 12 month high of $7.60. The stock has a 50-day simple moving average of $1.86 and a 200 day simple moving average of $2.13.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Innovative Eyewear

An institutional investor recently bought a new position in Innovative Eyewear stock. Cetera Investment Advisers purchased a new position in Innovative Eyewear, Inc. (NASDAQ:LUCY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 156,096 shares of the company’s stock, valued at approximately $331,000. Cetera Investment Advisers owned about 3.41% of Innovative Eyewear as of its most recent SEC filing. Institutional investors and hedge funds 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.