Innovative Eyewear, Inc. (NASDAQ:LUCY) Short Interest Update

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 435,001 shares, an increase of 105.3% from the December 31st total of 211,893 shares. Based on an average daily volume of 18,370,701 shares, the days-to-cover ratio is currently 0.0 days. Currently, 8.3% of the shares of the company are short sold. Currently, 8.3% of the shares of the company are short sold. Based on an average daily volume of 18,370,701 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

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 second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 156,096 shares of the company’s stock, valued at approximately $331,000. Cetera Investment Advisers owned 3.41% of Innovative Eyewear as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Innovative Eyewear in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Innovative Eyewear Stock Down 3.4%

NASDAQ LUCY opened at $1.14 on Friday. The stock has a market capitalization of $6.10 million, a P/E ratio of -0.53 and a beta of 3.26. Innovative Eyewear has a 52-week low of $0.95 and a 52-week high of $5.56. The firm has a 50-day moving average price of $1.38 and a 200 day moving average price of $1.72.

Innovative Eyewear (NASDAQ:LUCY) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 82.35% and a negative net margin of 327.92%.

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.