Innovative Eyewear, Inc. (NASDAQ:LUCY) Short Interest Down 66.8% in April

Innovative Eyewear, Inc. (NASDAQ:LUCY) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 37,000 shares, a drop of 66.8% from the March 31st total of 111,300 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 117,500 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Separately, Maxim Group cut their price target on Innovative Eyewear from $1.75 to $1.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th.

Innovative Eyewear Stock Performance

LUCY stock remained flat at $0.24 on Thursday. The company had a trading volume of 46,187 shares, compared to its average volume of 141,805. The firm’s 50-day moving average price is $0.32 and its two-hundred day moving average price is $0.39. Innovative Eyewear has a 12-month low of $0.23 and a 12-month high of $3.13.

Innovative Eyewear (NASDAQ:LUCY) last posted its quarterly earnings data on Monday, March 25th. The company reported ($0.19) EPS for the quarter. The company had revenue of $0.62 million for the quarter. Innovative Eyewear had a negative net margin of 578.05% and a negative return on equity of 99.83%.

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.