Innovative Eyewear (NASDAQ:LUCY) Given Hold Rating at Maxim Group

Maxim Group reaffirmed their hold rating on shares of Innovative Eyewear (NASDAQ:LUCY) in a research report report published on Wednesday morning,Benzinga reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Innovative Eyewear in a report on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Innovative Eyewear has a consensus rating of “Reduce”.

Innovative Eyewear Stock Up 1.1%

Shares of LUCY opened at $0.96 on Wednesday. Innovative Eyewear has a 12-month low of $0.90 and a 12-month high of $4.97. The business has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $1.20. The stock has a market cap of $6.14 million, a PE ratio of -0.57 and a beta of 2.66.

Innovative Eyewear (NASDAQ:LUCY) last issued its earnings results on Thursday, May 14th. The company reported ($0.37) earnings per share (EPS) 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 business had revenue of $0.77 million during the quarter, compared to analysts’ expectations of $0.70 million.

Institutional Investors Weigh In On Innovative Eyewear

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers acquired a new stake in shares of Innovative Eyewear in the second quarter valued at about $331,000. Citadel Advisors LLC acquired a new stake in shares of Innovative Eyewear in the third quarter valued at about $45,000. Finally, Virtu Financial LLC acquired a new stake in shares of Innovative Eyewear in the fourth quarter valued at about $33,000. Institutional investors and hedge funds 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. 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.