Innovative Eyewear (NASDAQ:LUCY) Shares Down 0.5% – What’s Next?

Innovative Eyewear, Inc. (NASDAQ:LUCY) was down 0.5% on Tuesday . The company traded as low as $1.94 and last traded at $1.99. Approximately 104,402 shares traded hands during trading, a decline of 85% from the average daily volume of 715,946 shares. The stock had previously closed at $2.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Innovative Eyewear in a research note on Saturday, September 27th. Wall Street Zen raised Innovative Eyewear from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Innovative Eyewear Stock Down 0.5%

The stock has a 50-day moving average of $1.97 and a 200 day moving average of $2.23. The stock has a market cap of $6.57 million, a PE ratio of -0.72 and a beta of 3.18.

Innovative Eyewear (NASDAQ:LUCY) last posted its earnings results on Thursday, August 14th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.11. Innovative Eyewear had a negative return on equity of 79.72% and a negative net margin of 390.70%.The company had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $1.00 million.

Institutional Trading of Innovative Eyewear

An institutional investor recently bought a new position in Innovative Eyewear stock. Cetera Investment Advisers bought a new stake in Innovative Eyewear, Inc. (NASDAQ:LUCY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 156,096 shares of the company’s stock, valued at approximately $331,000. Cetera Investment Advisers owned about 3.41% of Innovative Eyewear as of its most recent filing with the Securities and Exchange Commission. 0.96% of the stock is owned by institutional investors and hedge funds.

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.