Short Interest in Innovative Eyewear, Inc. (NASDAQ:LUCY) Rises By 260.6%

Innovative Eyewear, Inc. (NASDAQ:LUCY) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 185,700 shares, an increase of 260.6% from the October 15th total of 51,500 shares. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is currently 0.1 days. Approximately 71.8% of the company’s stock are sold short.

Innovative Eyewear Stock Down 2.9 %

LUCY traded down $0.21 during mid-day trading on Tuesday, reaching $6.94. 59,539 shares of the company traded hands, compared to its average volume of 1,084,331. The company’s fifty day moving average price is $7.29 and its 200-day moving average price is $7.00. The stock has a market capitalization of $10.90 million, a P/E ratio of -0.62 and a beta of 2.80. Innovative Eyewear has a 52-week low of $3.26 and a 52-week high of $27.20.

Innovative Eyewear (NASDAQ:LUCY) last posted its earnings results on Monday, August 12th. The company reported ($1.87) earnings per share for the quarter. The firm had revenue of $0.31 million during the quarter. Innovative Eyewear had a negative net margin of 513.65% and a negative return on equity of 128.67%.

Insider Buying and Selling

In other Innovative Eyewear news, major shareholder Vladimir Galkin sold 258,483 shares of Innovative Eyewear stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $7.27, for a total value of $1,879,171.41. Following the completion of the sale, the insider now owns 420,000 shares of the company’s stock, valued at approximately $3,053,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 498,735 shares of company stock worth $4,475,248 in the last three months. Insiders own 6.42% of the company’s stock.

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.