Innovative Eyewear, Inc. (NASDAQ:LUCY) Short Interest Down 47.2% in November

Posted by Amber O'Connor on Nov 28th, 2024

Innovative Eyewear, Inc. (NASDAQ:LUCY – Get Free Report) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 98,100 shares, a decline of 47.2% from the October 31st total of 185,700 shares. Based on an average daily volume of 1,750,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 8.6% of the company’s stock are short sold.

Insider Buying and Selling at Innovative Eyewear

In other news, major shareholder Vladimir Galkin sold 258,483 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $7.27, for a total transaction of $1,879,171.41. Following the transaction, the insider now directly owns 420,000 shares in the company, valued at $3,053,400. The trade was a 38.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 6.42% of the company’s stock.

Innovative Eyewear Stock Down 5.4 %

Shares of LUCY traded down $0.37 during midday trading on Thursday, reaching $6.51. 88,474 shares of the stock were exchanged, compared to its average volume of 1,035,874. The company has a market cap of $15.88 million, a price-to-earnings ratio of -0.67 and a beta of 2.80. The firm has a 50 day simple moving average of $7.58 and a 200-day simple moving average of $7.18. Innovative Eyewear has a 12-month low of $3.26 and a 12-month high of $27.20.

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

About Innovative Eyewear

(Get Free Report)

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.