Innovative Eyewear (NASDAQ:LUCY) Shares Up 6.3% – What’s Next?

Innovative Eyewear, Inc. (NASDAQ:LUCY)’s stock price was up 6.3% during mid-day trading on Thursday . The stock traded as high as $5.93 and last traded at $5.90. Approximately 31,772 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 975,071 shares. The stock had previously closed at $5.55.

Innovative Eyewear Stock Up 6.3 %

The stock has a market capitalization of $14.41 million, a PE ratio of -0.61 and a beta of 2.52. The firm has a 50 day moving average price of $6.85 and a 200-day moving average price of $6.91.

Innovative Eyewear (NASDAQ:LUCY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.60) by $0.61. Innovative Eyewear had a negative return on equity of 115.86% and a negative net margin of 514.01%. The firm had revenue of $0.25 million during the quarter.

Insider Activity at Innovative Eyewear

In related news, major shareholder Vladimir Galkin purchased 200,792 shares of Innovative Eyewear stock in a transaction that occurred on Monday, September 23rd. The stock was bought 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 owns 1,000,000 shares in the company, valued at $9,080,000. The trade was a 25.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 6.42% of the stock is owned by company insiders.

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.