Innovative Eyewear Stock Set to Reverse Split on Thursday, July 18th (NASDAQ:LUCY)

Innovative Eyewear, Inc. (NASDAQ:LUCY) shares are going to reverse split on the morning of Thursday, July 18th. The 1-20 reverse split was announced on Thursday, July 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 18th.

Innovative Eyewear Stock Performance

NASDAQ LUCY opened at $0.42 on Friday. The company’s 50-day moving average price is $0.44 and its 200-day moving average price is $0.38. Innovative Eyewear has a 12 month low of $0.17 and a 12 month high of $1.36.

Innovative Eyewear (NASDAQ:LUCY) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.15) earnings per share (EPS) for the quarter. Innovative Eyewear had a negative return on equity of 110.60% and a negative net margin of 517.55%. The firm had revenue of $0.38 million for the quarter.

Analyst Ratings Changes

Separately, Maxim Group cut their price target on Innovative Eyewear from $1.75 to $1.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th.

About Innovative Eyewear

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.