Innovative Eyewear, Inc. (NASDAQ:LUCY) Short Interest Up 105.3% in January

Innovative Eyewear, Inc. (NASDAQ:LUCY) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 435,001 shares, a growth of 105.3% from the December 31st total of 211,893 shares. Approximately 8.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,370,701 shares, the short-interest ratio is presently 0.0 days. Based on an average daily trading volume, of 18,370,701 shares, the short-interest ratio is presently 0.0 days. Approximately 8.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Innovative Eyewear stock. Citadel Advisors LLC purchased a new stake in shares of Innovative Eyewear, Inc. (NASDAQ:LUCY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 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 quarter. Institutional investors own 0.96% of the company’s stock.

Innovative Eyewear Trading Down 3.8%

NASDAQ:LUCY traded down $0.05 during trading hours on Friday, hitting $1.14. The stock had a trading volume of 79,608 shares, compared to its average volume of 9,561,534. The company has a market cap of $6.07 million, a PE ratio of -0.52 and a beta of 3.26. Innovative Eyewear has a 1-year low of $0.95 and a 1-year high of $5.56. The business has a 50 day simple moving average of $1.39 and a two-hundred day simple moving average of $1.73.

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

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.