Innovative Eyewear (NASDAQ:LUCY) Trading Down 9.8% – Here’s Why

Innovative Eyewear, Inc. (NASDAQ:LUCY) shares were down 9.8% during trading on Monday . The stock traded as low as $2.11 and last traded at $2.12. Approximately 420,956 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 1,026,898 shares. The stock had previously closed at $2.35.

Innovative Eyewear Trading Down 6.6 %

The company has a market cap of $4.51 million, a price-to-earnings ratio of -0.19 and a beta of 3.03. The stock’s 50 day moving average price is $3.59 and its 200 day moving average price is $5.47.

Innovative Eyewear (NASDAQ:LUCY) last released its earnings results on Monday, March 24th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.75. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.00 million. Innovative Eyewear had a negative net margin of 514.01% and a negative return on equity of 115.86%.

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.