Innovative Eyewear’s (LUCY) Hold Rating Reiterated at Maxim Group

Innovative Eyewear (NASDAQ:LUCY)‘s stock had its “hold” rating reissued by Maxim Group in a report released on Wednesday,Benzinga reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Innovative Eyewear in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Innovative Eyewear currently has a consensus rating of “Reduce”.

Innovative Eyewear Trading Up 0.8%

Shares of NASDAQ LUCY traded up $0.01 during mid-day trading on Wednesday, reaching $0.96. 45,249 shares of the company’s stock were exchanged, compared to its average volume of 1,896,556. The firm has a market capitalization of $6.14 million, a price-to-earnings ratio of -0.57 and a beta of 2.66. The business has a fifty day simple moving average of $1.05 and a 200 day simple moving average of $1.21. Innovative Eyewear has a twelve month low of $0.90 and a twelve month high of $4.97.

Innovative Eyewear (NASDAQ:LUCY) last announced its earnings results on Thursday, May 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.10. Innovative Eyewear had a negative return on equity of 83.37% and a negative net margin of 272.42%.The business had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.70 million.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers grew its stake in Innovative Eyewear by 46.5% in the first quarter. Cetera Investment Advisers now owns 500,000 shares of the company’s stock valued at $545,000 after purchasing an additional 158,722 shares in the last quarter. Virtu Financial LLC bought a new position in Innovative Eyewear in the fourth quarter valued at approximately $33,000. Finally, Citadel Advisors LLC bought a new position in Innovative Eyewear in the third quarter valued at approximately $45,000. 0.96% of the stock is currently owned by institutional investors.

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. In addition, the company launches an application, Lucyd app for iOS/Android users. It sells its products through various e-commerce, and retail store and distribution channels.