Short Interest in Innovative Eyewear, Inc. (NASDAQ:LUCY) Decreases By 26.2%

Innovative Eyewear, Inc. (NASDAQ:LUCY) saw a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 135,450 shares, a drop of 26.2% from the February 12th total of 183,585 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 59,815 shares, the short-interest ratio is presently 2.3 days. Based on an average trading volume of 59,815 shares, the short-interest ratio is presently 2.3 days. Currently, 2.6% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Innovative Eyewear

Several institutional investors and hedge funds have recently made changes to their positions in LUCY. Citadel Advisors LLC bought a new stake in shares of Innovative Eyewear in the 3rd quarter worth about $45,000. Virtu Financial LLC acquired a new stake in shares of Innovative Eyewear during the 4th quarter worth about $33,000. Finally, Cetera Investment Advisers lifted its holdings in Innovative Eyewear by 60.0% during the 4th quarter. Cetera Investment Advisers now owns 341,278 shares of the company’s stock valued at $340,000 after purchasing an additional 127,927 shares during the last quarter. Institutional investors and hedge funds own 0.96% of the company’s stock.

Innovative Eyewear Stock Performance

NASDAQ:LUCY traded up $0.05 during trading hours on Friday, reaching $1.12. The company had a trading volume of 73,392 shares, compared to its average volume of 77,138. The stock has a 50-day moving average of $1.23 and a two-hundred day moving average of $1.52. Innovative Eyewear has a one year low of $0.95 and a one year high of $5.56.

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.