Short Interest in Innovative Eyewear, Inc. (NASDAQ:LUCY) Grows By 47.6%

by · The Cerbat Gem

Innovative Eyewear, Inc. (NASDAQ:LUCY – Get Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 225,766 shares, an increase of 47.6% from the November 30th total of 152,969 shares. Currently, 4.3% of the shares of the stock are sold short. Based on an average trading volume of 377,110 shares, the short-interest ratio is presently 0.6 days. Based on an average trading volume of 377,110 shares, the short-interest ratio is presently 0.6 days. Currently, 4.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Innovative Eyewear

An institutional investor recently bought a new position in Innovative Eyewear stock. Citadel Advisors LLC acquired a new stake in Innovative Eyewear, Inc. (NASDAQ:LUCY – Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund 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. 0.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on LUCY

Innovative Eyewear Stock Performance

Shares of NASDAQ LUCY traded down $0.08 during trading on Wednesday, reaching $1.01. The company had a trading volume of 391,880 shares, compared to its average volume of 968,237. The stock has a market cap of $5.38 million, a PE ratio of -0.46 and a beta of 3.19. The business’s 50 day moving average price is $1.52 and its 200-day moving average price is $1.86. Innovative Eyewear has a 52 week low of $0.95 and a 52 week high of $7.08.

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

About Innovative Eyewear

(Get Free Report)

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.

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