Short Interest in Innovative Eyewear, Inc. (NASDAQ:LUCY) Drops By 88.7%

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 93,000 shares, a decline of 88.7% from the August 31st total of 822,500 shares. Approximately 7.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,930,000 shares, the days-to-cover ratio is presently 0.0 days.

Innovative Eyewear Stock Performance

NASDAQ LUCY traded down $0.91 during trading on Thursday, hitting $8.71. The stock had a trading volume of 279,633 shares, compared to its average volume of 1,195,133. The firm has a 50 day moving average price of $5.19 and a 200 day moving average price of $6.61. Innovative Eyewear has a twelve month low of $3.26 and a twelve month high of $27.20.

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

Insider Activity

In other news, major shareholder Vladimir Galkin sold 258,483 shares of the company’s 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 transaction, the insider now owns 420,000 shares of the company’s stock, valued at approximately $3,053,400. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have bought 498,735 shares of company stock valued at $4,475,248. 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.