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

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 219,224 shares, a drop of 49.6% from the January 15th total of 435,001 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 310,363 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 310,363 shares, the short-interest ratio is currently 0.7 days. Approximately 4.2% of the shares of the company are short sold.

Innovative Eyewear Stock Down 7.3%

Shares of Innovative Eyewear stock traded down $0.08 during trading on Thursday, hitting $1.02. 86,880 shares of the stock traded hands, compared to its average volume of 6,649,120. Innovative Eyewear has a 52 week low of $0.95 and a 52 week high of $5.56. The stock has a market cap of $5.46 million, a price-to-earnings ratio of -0.47 and a beta of 3.25. The firm’s fifty day moving average is $1.33 and its 200-day moving average is $1.66.

Innovative Eyewear (NASDAQ:LUCY) last issued its earnings results on Thursday, November 13th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.11. The company had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.00 million. Innovative Eyewear had a negative return on equity of 82.35% and a negative net margin of 327.92%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Innovative Eyewear in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Innovative Eyewear

A hedge fund recently bought a new stake in Innovative Eyewear stock. Citadel Advisors LLC acquired a new position in Innovative Eyewear, Inc. (NASDAQ:LUCY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,222 shares of the company’s stock, valued at approximately $45,000. Citadel Advisors LLC owned approximately 0.70% of Innovative Eyewear at the end of the most recent quarter. 0.96% of the stock is currently owned by institutional investors and hedge funds.

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.