Innovative Eyewear, Inc. (NASDAQ:LUCY) Short Interest Down 45.0% in October

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 51,500 shares, a decline of 45.0% from the September 30th total of 93,600 shares. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is presently 0.0 days. Currently, 19.9% of the shares of the company are sold short.

Innovative Eyewear Stock Down 4.7 %

LUCY traded down $0.29 during trading on Friday, reaching $5.84. The company’s stock had a trading volume of 26,659 shares, compared to its average volume of 1,082,132. The company has a market cap of $9.17 million, a price-to-earnings ratio of -0.53 and a beta of 2.80. The firm has a fifty day simple moving average of $6.51 and a two-hundred day simple moving average of $6.79. Innovative Eyewear has a 1 year low of $3.26 and a 1 year high of $27.20.

Innovative Eyewear (NASDAQ:LUCY) last posted its quarterly earnings results on Monday, August 12th. The company reported ($1.87) EPS for the quarter. The company had revenue of $0.31 million for the quarter. Innovative Eyewear had a negative return on equity of 128.67% and a negative net margin of 513.65%.

Insider Activity at Innovative Eyewear

In other Innovative Eyewear news, major shareholder Vladimir Galkin acquired 200,792 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $9.08 per share, for a total transaction of $1,823,191.36. Following the completion of the transaction, the insider now directly owns 1,000,000 shares of the company’s stock, valued at $9,080,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 498,735 shares of company stock worth $4,475,248 in the last three months. Company insiders own 6.42% of the company’s stock.

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.