Innovative Eyewear (NASDAQ:LUCY) Stock Price Up 6.3% – Still a Buy?

Posted by Donald Scott on Dec 21st, 2024

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

Innovative Eyewear Price Performance

The stock has a market cap of $13.92 million, a price-to-earnings ratio of -0.59 and a beta of 2.52. The stock’s 50-day moving average is $6.81 and its 200-day moving average is $6.84.

Innovative Eyewear (NASDAQ:LUCY – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.99) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $0.25 million during the quarter.

Insiders Place Their Bets

In other Innovative Eyewear news, major shareholder Vladimir Galkin purchased 200,792 shares of Innovative Eyewear stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost of $9.08 per share, with a total value of $1,823,191.36. Following the completion of the transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $9,080,000. This represents a 25.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.42% of the stock is currently owned by insiders.

Innovative Eyewear Company Profile

(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.