Innovative Eyewear (NASDAQ:LUCY) Announces Quarterly Earnings Results

Innovative Eyewear (NASDAQ:LUCY) issued its quarterly earnings results on Tuesday. The company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.61, Zacks reports. Innovative Eyewear had a negative return on equity of 115.86% and a negative net margin of 514.01%. The business had revenue of $0.25 million during the quarter.

Innovative Eyewear Trading Up 4.2 %

NASDAQ LUCY traded up $0.28 on Friday, reaching $6.89. 82,386 shares of the stock were exchanged, compared to its average volume of 1,070,758. Innovative Eyewear has a one year low of $3.26 and a one year high of $27.20. The firm has a market capitalization of $10.82 million, a PE ratio of -0.72 and a beta of 2.80. The company’s 50-day simple moving average is $7.38 and its two-hundred day simple moving average is $7.01.

Insider Transactions at Innovative Eyewear

In other Innovative Eyewear news, major shareholder Vladimir Galkin bought 200,792 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price 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 of the company’s stock, valued at $9,080,000. This trade represents a 25.12 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 498,735 shares of company stock valued at $4,475,248 over the last three months. Corporate 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.