Innovative Eyewear (NASDAQ:LUCY) Stock Price Down 8.8%

Innovative Eyewear, Inc. (NASDAQ:LUCY) was down 8.8% during mid-day trading on Wednesday . The stock traded as low as $0.45 and last traded at $0.46. Approximately 3,042,581 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 18,422,863 shares. The stock had previously closed at $0.50.

Wall Street Analysts Forecast Growth

Separately, Maxim Group cut their target price on Innovative Eyewear from $1.75 to $1.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th.

Innovative Eyewear Stock Down 8.8 %

The company has a fifty day moving average price of $0.41 and a two-hundred day moving average price of $0.38.

Innovative Eyewear (NASDAQ:LUCY) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.15) earnings per share for the quarter. The business had revenue of $0.38 million for the quarter. Innovative Eyewear had a negative return on equity of 110.60% and a negative net margin of 517.55%.

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.