Short Interest in Innovative Eyewear, Inc. (NASDAQ:LUCY) Decreases By 26.2%

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the target of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 135,450 shares, a decline of 26.2% from the February 12th total of 183,585 shares. Based on an average trading volume of 59,815 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.6% of the shares of the company are short sold. Approximately 2.6% of the shares of the company are short sold. Based on an average trading volume of 59,815 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Innovative Eyewear

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers lifted its position in Innovative Eyewear by 60.0% in the fourth quarter. Cetera Investment Advisers now owns 341,278 shares of the company’s stock worth $340,000 after purchasing an additional 127,927 shares during the period. Virtu Financial LLC acquired a new stake in Innovative Eyewear during the fourth quarter worth $33,000. Finally, Citadel Advisors LLC bought a new stake in Innovative Eyewear in the 3rd quarter valued at $45,000. 0.96% of the stock is currently owned by institutional investors.

Innovative Eyewear Trading Up 4.7%

LUCY traded up $0.05 on Friday, hitting $1.12. 73,392 shares of the stock traded hands, compared to its average volume of 77,138. The business has a fifty day moving average price of $1.23 and a two-hundred day moving average price of $1.52. Innovative Eyewear has a 52 week low of $0.95 and a 52 week high of $5.56.

Wall Street Analyst Weigh In

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

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.