Innovative Eyewear, Inc. (NASDAQ:LUCY – Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 55,176 shares, an increase 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 shares of the company are sold short.
Innovative Eyewear Stock Down 5.5%
NASDAQ:LUCY traded down $0.06 during trading hours on Tuesday, reaching $0.95. The company had a trading volume of 68,611 shares, compared to its average volume of 1,914,420. The stock has a 50-day moving average of $1.05 and a two-hundred day moving average of $1.21. Innovative Eyewear has a one year low of $0.90 and a one year high of $4.97. The firm has a market capitalization of $6.08 million, a PE ratio of -0.56 and a beta of 2.66.
Innovative Eyewear (NASDAQ:LUCY – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.10. The company had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.70 million. Innovative Eyewear had a negative return on equity of 83.37% and a negative net margin of 272.42%.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on Innovative Eyewear
Hedge Funds Weigh In On Innovative Eyewear
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in Innovative Eyewear by 46.5% in the first quarter. Cetera Investment Advisers now owns 500,000 shares of the company’s stock worth $545,000 after purchasing an additional 158,722 shares in the last quarter. Virtu Financial LLC acquired a new position in Innovative Eyewear in the fourth quarter worth $33,000. Finally, Citadel Advisors LLC acquired a new position in Innovative Eyewear in the third quarter worth $45,000. 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. 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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