Innovative Eyewear (NASDAQ:LUCY) Issues Earnings Results

Innovative Eyewear (NASDAQ:LUCY) released its quarterly earnings results on Monday. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.08, Zacks reports. Innovative Eyewear had a negative net margin of 225.26% and a negative return on equity of 88.90%.

Innovative Eyewear Price Performance

Shares of NASDAQ LUCY traded up $0.01 during midday trading on Monday, hitting $0.84. The company’s stock had a trading volume of 95,021 shares, compared to its average volume of 3,247,413. The business’s fifty day simple moving average is $0.88 and its two-hundred day simple moving average is $0.96. Innovative Eyewear has a 1 year low of $0.65 and a 1 year high of $2.02. The firm has a market capitalization of $7.32 million, a price-to-earnings ratio of -0.65 and a beta of 2.75.

Analyst Upgrades and Downgrades

LUCY has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Innovative Eyewear in a research report on Thursday, October 15th. Wall Street Zen upgraded Innovative Eyewear to a “hold” rating in a report on Saturday, September 26th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

About Innovative Eyewear

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.