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

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

Innovative Eyewear Price Performance

Shares of NASDAQ LUCY traded down $0.19 during mid-day trading on Monday, reaching $3.18. 25,557 shares of the company’s stock traded hands, compared to its average volume of 24,980. Innovative Eyewear has a 1-year low of $3.00 and a 1-year high of $27.20. The stock has a market cap of $7.77 million, a P/E ratio of -0.33 and a beta of 2.75. The business has a 50-day simple moving average of $4.74 and a 200 day simple moving average of $6.09.

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.