Innovative Eyewear (NASDAQ:LUCY) Announces Quarterly Earnings Results

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

Innovative Eyewear Stock Up 1.8%

Shares of LUCY stock traded up $0.01 during mid-day trading on Monday, hitting $0.84. 95,021 shares of the company’s stock were exchanged, compared to its average volume of 3,247,413. The stock has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $0.96. The stock has a market cap of $7.32 million, a price-to-earnings ratio of -0.65 and a beta of 2.75. Innovative Eyewear has a fifty-two week low of $0.65 and a fifty-two week high of $2.02.

Analyst Upgrades and Downgrades

LUCY has been the subject of a number of research analyst reports. Wall Street Zen raised Innovative Eyewear to a “hold” rating in a report on Saturday, September 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Innovative Eyewear in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Innovative Eyewear Company Profile

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.