Innovative Eyewear (NASDAQ:LUCY) Releases Quarterly Earnings Results, Beats Expectations By $0.75 EPS

Innovative Eyewear (NASDAQ:LUCY) posted its earnings results on Monday. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.75, Zacks reports. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.00 million. Innovative Eyewear had a negative return on equity of 115.86% and a negative net margin of 514.01%.

Innovative Eyewear Stock Performance

Shares of LUCY stock opened at $3.18 on Tuesday. Innovative Eyewear has a fifty-two week low of $3.00 and a fifty-two week high of $27.20. The company has a 50 day moving average price of $4.69 and a 200 day moving average price of $6.08. The stock has a market capitalization of $7.77 million, a P/E ratio of -0.33 and a beta of 2.75.

Innovative Eyewear Company Profile

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.