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

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 26,889 shares, a decrease of 34.0% from the April 15th total of 40,757 shares. Based on an average daily volume of 88,310 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Innovative Eyewear in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Innovative Eyewear has a consensus rating of “Sell”.

Innovative Eyewear Stock Down 0.6%

NASDAQ:LUCY opened at $0.93 on Wednesday. Innovative Eyewear has a twelve month low of $0.90 and a twelve month high of $4.97. The business has a 50 day moving average price of $1.06 and a two-hundred day moving average price of $1.25. The company has a market cap of $5.98 million, a P/E ratio of -0.55 and a beta of 2.70.

Innovative Eyewear (NASDAQ:LUCY) last released its quarterly 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 firm had revenue of $0.77 million during the quarter, compared to the consensus estimate of $0.70 million.

Hedge Funds Weigh In On Innovative Eyewear

Large investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Innovative Eyewear during the 4th quarter worth approximately $33,000. Citadel Advisors LLC acquired a new position in Innovative Eyewear during the 3rd quarter worth approximately $45,000. Finally, Cetera Investment Advisers acquired a new position in Innovative Eyewear during the 2nd quarter worth approximately $331,000. Institutional investors and hedge funds own 0.96% of the company’s stock.

Innovative Eyewear Company Profile

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.