Innovative Eyewear, Inc. (NASDAQ:LUCY) Short Interest Update

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 430,800 shares, a decline of 68.1% from the June 15th total of 1,350,000 shares. Based on an average trading volume of 36,470,000 shares, the short-interest ratio is presently 0.0 days. Currently, 2.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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 research note on Tuesday, March 26th.

Innovative Eyewear Stock Down 4.9 %

LUCY traded down $0.02 during midday trading on Thursday, reaching $0.44. The company had a trading volume of 6,673,169 shares, compared to its average volume of 18,088,443. The business has a 50-day moving average price of $0.43 and a two-hundred day moving average price of $0.38. Innovative Eyewear has a 12-month low of $0.17 and a 12-month high of $1.36.

Innovative Eyewear’s stock is set to reverse split before the market opens on 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 (NASDAQ:LUCY) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.15) EPS for the quarter. The company had revenue of $0.38 million during the quarter. Innovative Eyewear had a negative return on equity of 110.60% and a negative net margin of 517.55%.

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.