Innovative Eyewear (NASDAQ:LUCY) Releases Quarterly Earnings Results

Innovative Eyewear (NASDAQ:LUCY) released its quarterly earnings data on Thursday. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.10, FiscalAI reports. Innovative Eyewear had a negative net margin of 272.42% and a negative return on equity of 79.64%. The firm had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.70 million.

Innovative Eyewear Stock Performance

Shares of LUCY stock traded down $0.08 on Friday, hitting $0.93. The company’s stock had a trading volume of 126,331 shares, compared to its average volume of 96,961. The stock’s 50 day moving average is $1.07 and its 200-day moving average is $1.27. Innovative Eyewear has a fifty-two week low of $0.92 and a fifty-two week high of $4.97. The company has a market capitalization of $5.86 million, a PE ratio of -0.55 and a beta of 2.70.

Hedge Funds Weigh In On Innovative Eyewear

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Innovative Eyewear in the fourth quarter valued at about $33,000. Cetera Investment Advisers grew its stake in shares of Innovative Eyewear by 60.0% in the fourth quarter. Cetera Investment Advisers now owns 341,278 shares of the company’s stock valued at $340,000 after acquiring an additional 127,927 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Innovative Eyewear in the third quarter valued at about $45,000. 0.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Innovative Eyewear in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Innovative Eyewear Company Profile

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.