Innovative Eyewear, Inc. (NASDAQ:LUCY) Sees Significant Drop in Short Interest

Posted by Carolyn Dwyer on Apr 25th, 2024

Innovative Eyewear, Inc. (NASDAQ:LUCY – Get Free Report) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 37,000 shares, a drop of 66.8% from the March 31st total of 111,300 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 117,500 shares, the days-to-cover ratio is currently 0.3 days.

Innovative Eyewear Stock Performance

Shares of NASDAQ LUCY remained flat at $0.24 during mid-day trading on Thursday. The stock had a trading volume of 46,187 shares, compared to its average volume of 141,805. The company’s fifty day moving average is $0.32 and its two-hundred day moving average is $0.39. Innovative Eyewear has a fifty-two week low of $0.23 and a fifty-two week high of $3.13.

Innovative Eyewear (NASDAQ:LUCY – Get Free Report) last announced its quarterly earnings results on Monday, March 25th. The company reported ($0.19) EPS for the quarter. Innovative Eyewear had a negative net margin of 578.05% and a negative return on equity of 99.83%. The company had revenue of $0.62 million for the quarter.

Analyst Ratings Changes

Separately, Maxim Group decreased their price objective on shares of Innovative Eyewear from $1.75 to $1.00 and set a “buy” rating for the company in a report on Tuesday, March 26th.

Get Our Latest Stock Analysis on LUCY

About Innovative Eyewear

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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.