Innovative Eyewear (NASDAQ:LUCY) Trading Down 9.8% – What’s Next?

Innovative Eyewear, Inc. (NASDAQ:LUCY) dropped 9.8% on Monday . The stock traded as low as $2.11 and last traded at $2.12. Approximately 420,956 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 1,026,898 shares. The stock had previously closed at $2.35.

Innovative Eyewear Stock Down 6.6 %

The firm has a fifty day moving average of $3.59 and a 200-day moving average of $5.47. The stock has a market capitalization of $4.51 million, a price-to-earnings ratio of -0.19 and a beta of 3.03.

Innovative Eyewear (NASDAQ:LUCY) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.75. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.00 million. Innovative Eyewear had a negative return on equity of 115.86% and a negative net margin of 514.01%.

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.