Innovative Eyewear (NASDAQ:LUCY – Get Free Report) announced its earnings results on Tuesday. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.60) by $0.61, Zacks reports. The company had revenue of $0.25 million during the quarter. Innovative Eyewear had a negative net margin of 514.01% and a negative return on equity of 115.86%.
Innovative Eyewear Stock Up 2.4 %
Shares of Innovative Eyewear stock traded up $0.16 during trading on Friday, reaching $6.77. The company’s stock had a trading volume of 80,654 shares, compared to its average volume of 1,070,750. Innovative Eyewear has a 1-year low of $3.26 and a 1-year high of $27.20. The company has a 50-day simple moving average of $7.38 and a two-hundred day simple moving average of $7.01. The company has a market cap of $10.63 million, a price-to-earnings ratio of -0.72 and a beta of 2.80.
Insider Activity
In other news, major shareholder Vladimir Galkin bought 200,792 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was purchased at an average cost of $9.08 per share, with a total value of $1,823,191.36. Following the acquisition, the insider now directly owns 1,000,000 shares in the company, valued at $9,080,000. This trade represents a 25.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have purchased 498,735 shares of company stock valued at $4,475,248 over the last ninety days. 6.42% of the stock is currently owned by 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.
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