Innovative Eyewear (NASDAQ:LUCY) Shares Up 6.3% – What’s Next?

Shares of Innovative Eyewear, Inc. (NASDAQ:LUCY) shot up 6.3% on Thursday . The stock traded as high as $5.93 and last traded at $5.90. 31,772 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 975,071 shares. The stock had previously closed at $5.55.

Innovative Eyewear Stock Performance

The firm has a market capitalization of $14.41 million, a PE ratio of -0.61 and a beta of 2.52. The company has a fifty day simple moving average of $6.85 and a two-hundred day simple moving average of $6.91.

Innovative Eyewear (NASDAQ:LUCY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.61. The firm had revenue of $0.25 million during the quarter. Innovative Eyewear had a negative return on equity of 115.86% and a negative net margin of 514.01%.

Insider Buying and Selling

In other Innovative Eyewear news, major shareholder Vladimir Galkin purchased 200,792 shares of the stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $9.08 per share, with a total value of $1,823,191.36. Following the completion of the acquisition, the insider now owns 1,000,000 shares in the company, valued at $9,080,000. The trade was a 25.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 6.42% of the stock is currently owned by company insiders.

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.