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

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the target of a significant increase in short interest in 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. Currently, 8.3% of the shares of the stock are sold short. Based on an average daily volume of 18,370,701 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 18,370,701 shares, the short-interest ratio is presently 0.0 days. Currently, 8.3% of the shares of the stock are sold short.

Institutional Trading of Innovative Eyewear

A hedge fund recently bought a new stake in Innovative Eyewear stock. Citadel Advisors LLC acquired a new position in shares of Innovative Eyewear, Inc. (NASDAQ:LUCY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,222 shares of the company’s stock, valued at approximately $45,000. Citadel Advisors LLC owned about 0.70% of Innovative Eyewear at the end of the most recent reporting period. 0.96% of the stock is currently owned by institutional investors.

Innovative Eyewear Stock Down 3.4%

LUCY stock traded down $0.04 during midday trading on Friday, reaching $1.14. The company’s stock had a trading volume of 257,556 shares, compared to its average volume of 9,557,946. The business’s 50-day simple moving average is $1.38 and its 200-day simple moving average is $1.72. Innovative Eyewear has a 52 week low of $0.95 and a 52 week high of $5.56. The stock has a market cap of $6.10 million, a PE ratio of -0.53 and a beta of 3.26.

Innovative Eyewear (NASDAQ:LUCY) last posted its quarterly earnings results 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. Innovative Eyewear had a negative return on equity of 82.35% and a negative net margin of 327.92%.The company had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.00 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Innovative Eyewear in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

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.