Short Interest in Innovative Eyewear, Inc. (NASDAQ:LUCY) Increases By 105.3%

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the recipient of a large 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 trading volume, of 18,370,701 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 18,370,701 shares, the days-to-cover ratio is currently 0.0 days. Currently, 8.3% of the shares of the stock are sold short.

Institutional Trading of Innovative Eyewear

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

Innovative Eyewear Stock Down 3.8%

NASDAQ LUCY traded down $0.05 during trading hours on Friday, hitting $1.14. 79,608 shares of the company were exchanged, compared to its average volume of 9,561,534. Innovative Eyewear has a 52 week low of $0.95 and a 52 week high of $5.56. The stock has a 50-day moving average price of $1.39 and a 200 day moving average price of $1.73. The stock has a market cap of $6.07 million, a PE ratio of -0.52 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 (EPS) for the quarter, topping 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 business had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.00 million.

Analyst Ratings Changes

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

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.