Innovative Eyewear (LUCY) Stock Price, News & Analysis

Company Overview

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. Innovative Eyewear, Inc. has a license agreement with Lucyd Ltd. The company was incorporated in 2019 and is headquartered in North Miami, Florida. Innovative Eyewear, Inc. is a subsidiary of Lucyd Ltd.

Key Stats

• Today's Range: $6.63 to $7.09
• 50-Day Range: $4.91 to $10.79
• 52-Week Range: $3.26 to $27.20
• Volume: 27,363 shs
• Average Volume: 695,328 shs
• Market Capitalization: $10.74 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $20.00
• Consensus Rating: Buy

Innovative Eyewear Stock Analysis - MarketRank™

Innovative Eyewear scored higher than 49% of companies evaluated by MarketBeat, and ranked 607th out of 963 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Buy

Consensus Rating

Innovative Eyewear has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Innovative Eyewear has received no research coverage in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: N/A

Price to Earnings Ratio vs. the Market

The P/E ratio of Innovative Eyewear is -0.71, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Innovative Eyewear is -0.71, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Innovative Eyewear has a P/B Ratio of 0.98. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

71.78% of the float of Innovative Eyewear has been sold short.

Short Interest Ratio / Days to Cover

Innovative Eyewear has a short interest ratio ("days to cover") of 0.1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Innovative Eyewear has recently increased by 260.58%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Innovative Eyewear does not currently pay a dividend.

Dividend Growth

Innovative Eyewear does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

71.78% of the float of Innovative Eyewear has been sold short.

Short Interest Ratio / Days to Cover

Innovative Eyewear has a short interest ratio ("days to cover") of 0.1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Innovative Eyewear has recently increased by 260.58%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.5 / 5
• News Sentiment: N/A

News Sentiment

Innovative Eyewear has a news sentiment score of 1.50. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.46 average news sentiment score of Medical companies.

Search Interest

Only 5 people have searched for LUCY on MarketBeat in the last 30 days. This is a decrease of -29% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: Acquiring Shares

Insider Buying vs. Insider Selling

In the past three months, Innovative Eyewear insiders have bought 138.05% more of their company's stock than they have sold. Specifically, they have bought $4,473,408.00 in company stock and sold $1,879,171.00 in company stock.

Percentage Held by Insiders

Only 6.42% of the stock of Innovative Eyewear is held by insiders.

Percentage Held by Institutions

Only 0.96% of the stock of Innovative Eyewear is held by institutions.

LUCY Stock Analysis - Frequently Asked Questions

How have LUCY shares performed this year?

Innovative Eyewear's stock was trading at $8.4380 at the beginning of the year. Since then, LUCY stock has decreased by 18.9% and is now trading at $6.84.
View the best growth stocks for 2024 here.

How were Innovative Eyewear's earnings last quarter?

Innovative Eyewear, Inc. (NASDAQ:LUCY) posted its quarterly earnings data on Tuesday, November, 12th. The company reported ($0.99) earnings per share for the quarter, topping analysts' consensus estimates of ($1.60) by $0.61. The business had revenue of $0.25 million for the quarter. Innovative Eyewear had a negative trailing twelve-month return on equity of 115.86% and a negative net margin of 514.01%.

When did Innovative Eyewear's stock split?

Innovative Eyewear's stock reverse split before market open on Thursday, July 18th 2024. The 1-20 reverse split was announced on Thursday, July 18th 2024. The number of shares owned by shareholders was adjusted after the market closes on Thursday, July 18th 2024. An investor that had 100 shares of stock prior to the reverse split would have 5 shares after the split.

When did Innovative Eyewear IPO?

Innovative Eyewear (LUCY) raised $8 million in an initial public offering on the week of August 15th 2022. The company issued 900,000 shares at $7.50-$9.50 per share. Maxim Group acted as the underwriter for the IPO.

How do I buy shares of Innovative Eyewear?

Shares of LUCY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Innovative Eyewear own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Innovative Eyewear investors own include Sangamo Therapeutics (SGMO), Meta Platforms (META), NVIDIA (NVDA), Faraday Future Intelligent Electric (FFIE), Mullen Automotive (MULN), NIO (NIO) and Verizon Communications (VZ).

Company Calendar

• Last Earnings: 11/12/2024
• Today: 11/21/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 3/24/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Medical
• Industry: Ophthalmic goods
• Sub-Industry: Medical Equipment
• Current Symbol: NASDAQ:LUCY
• CUSIP: N/A
• CIK: 1808377
• Web: www.lucyd.co
• Phone: 786-785-5178
• Fax: N/A
• Employees: 9
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $20.00
• High Stock Price Target: $20.00
• Low Stock Price Target: $20.00
• Potential Upside/Downside: +192.4%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 1 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($9.66)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-6,660,000.00
• Net Margins: -514.01%
• Pretax Margin: -513.95%
• Return on Equity: -115.86%
• Return on Assets: -105.40%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 16.83
• Quick Ratio: 15.22

Sales & Book Value

• Annual Sales: $1.15 million
• Price / Sales: 9.34
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $6.96 per share
• Price / Book: 0.98

Miscellaneous

• Outstanding Shares: 1,570,000
• Free Float: 1,470,000
• Market Cap: $10.74 million
• Optionable: Not Optionable
• Beta: 2.80