Innovative Eyewear (NASDAQ:LUCY) Trading 5% Higher – Here’s What Happened

Shares of Innovative Eyewear, Inc. (NASDAQ:LUCY) were up 5% during mid-day trading on Thursday . The stock traded as high as $1.50 and last traded at $1.47. Approximately 169,630 shares changed hands during trading, a decline of 84% from the average daily volume of 1,040,691 shares. The stock had previously closed at $1.40.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Innovative Eyewear in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Innovative Eyewear presently has an average rating of “Sell”.

Innovative Eyewear Stock Performance

The business has a 50-day simple moving average of $1.72 and a two-hundred day simple moving average of $2.06. The stock has a market cap of $7.86 million, a price-to-earnings ratio of -0.68 and a beta of 3.19.

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

Institutional Investors Weigh In On Innovative Eyewear

A hedge fund recently bought a new stake in Innovative Eyewear stock. Citadel Advisors LLC acquired a new stake in Innovative Eyewear, Inc. (NASDAQ:LUCY) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 reporting period. Hedge funds and other institutional investors 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.