Innovative Eyewear, Inc. (NASDAQ:LUCY) Sees Large Increase in Short Interest

Innovative Eyewear, Inc. (NASDAQ:LUCY) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 822,500 shares, a growth of 1,727.8% from the August 15th total of 45,000 shares. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 67.4% of the shares of the stock are short sold.

Innovative Eyewear Price Performance

LUCY stock traded down $0.24 on Thursday, reaching $5.18. The company had a trading volume of 151,909 shares, compared to its average volume of 1,224,560. Innovative Eyewear has a 1 year low of $3.26 and a 1 year high of $27.20. The company’s fifty day moving average is $5.16 and its 200 day moving average is $6.56.

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

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.