Innovative Eyewear (NASDAQ:LUCY) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Innovative Eyewear (NASDAQ:LUCY) posted its quarterly earnings data on Monday. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.08, Zacks reports. Innovative Eyewear had a negative net margin of 216.76% and a negative return on equity of 100.32%. The firm had revenue of $1.01 million during the quarter, compared to analyst estimates of $2.00 million.

Innovative Eyewear Trading Down 1.8%

Shares of LUCY traded down $0.02 during mid-day trading on Wednesday, reaching $0.84. The company’s stock had a trading volume of 39,679 shares, compared to its average volume of 3,220,341. The stock has a market cap of $7.36 million, a PE ratio of -0.72 and a beta of 2.75. The company’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $0.95. Innovative Eyewear has a 52 week low of $0.65 and a 52 week high of $2.02.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LUCY. Wall Street Zen upgraded shares of Innovative Eyewear to a “hold” rating in a research note on Saturday, September 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Innovative Eyewear in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Innovative Eyewear Company Profile

Innovative Eyewear, Inc. is a technology and eyewear company that develops and sells smart glasses designed to combine traditional eyewear with wireless audio and hands-free digital functionality. Its products generally incorporate speakers, microphones and Bluetooth connectivity, allowing users to listen to music, make calls and interact with voice assistants while keeping their hands free. The company markets products under the Lucyd brand, including prescription-capable eyewear, sunglasses and blue-light-filtering styles.