Innovative Eyewear (NASDAQ:LUCY) Issues Earnings Results

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

Innovative Eyewear Stock Performance

Shares of LUCY stock traded up $0.01 during mid-day trading on Monday, hitting $0.84. 103,798 shares of the stock traded hands, compared to its average volume of 3,247,413. The firm has a market cap of $7.32 million, a price-to-earnings ratio of -0.65 and a beta of 2.75. The company’s 50-day simple moving average is $0.88 and its 200-day simple moving average is $0.96. Innovative Eyewear has a twelve month low of $0.65 and a twelve month high of $2.02.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Innovative Eyewear to a “hold” rating in a research note on Saturday, September 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Innovative Eyewear in a report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Innovative Eyewear presently 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.