Innovative Eyewear (NASDAQ:LUCY) Raised to Hold at Wall Street Zen

Innovative Eyewear (NASDAQ:LUCY) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also weighed in on LUCY. Maxim Group lowered shares of Innovative Eyewear from a “buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Innovative Eyewear in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Innovative Eyewear Price Performance

LUCY opened at $0.95 on Friday. The business has a fifty day moving average price of $0.82 and a 200 day moving average price of $0.93. Innovative Eyewear has a 12 month low of $0.65 and a 12 month high of $2.09. The stock has a market capitalization of $8.27 million, a price-to-earnings ratio of -0.74 and a beta of 2.76.

Innovative Eyewear (NASDAQ:LUCY) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.11. The company had revenue of $1.01 million for the quarter, compared to analyst estimates of $0.90 million. Innovative Eyewear had a negative return on equity of 88.90% and a negative net margin of 225.26%.

Institutional Trading of Innovative Eyewear

A hedge fund recently raised its stake in Innovative Eyewear stock. Cetera Investment Advisers grew its holdings in Innovative Eyewear, Inc. (NASDAQ:LUCY) by 46.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 500,000 shares of the company’s stock after acquiring an additional 158,722 shares during the quarter. Cetera Investment Advisers owned about 7.94% of Innovative Eyewear worth $545,000 at the end of the most recent reporting period. 0.96% of the stock is owned by institutional investors and hedge funds.

Innovative Eyewear Company Profile

Innovative Eyewear, Inc develops and sells smart eyewear designed to combine conventional glasses with wireless audio, hands-free communication and connected technology. Its products are intended to provide features such as open-ear speakers, microphones, Bluetooth connectivity and access to voice-enabled assistants while maintaining the appearance and functionality of everyday eyewear.

The company markets its products under the Lucyd brand and has also introduced licensed smart-eyewear collections associated with brands including Nautica, Eddie Bauer and Reebok.