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

Innovative Eyewear (NASDAQ:LUCY) issued its quarterly 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 firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.00 million.

Innovative Eyewear Stock Performance

Shares of NASDAQ:LUCY traded down $0.19 during midday trading on Monday, hitting $3.18. The company’s stock had a trading volume of 25,557 shares, compared to its average volume of 960,599. The company has a market cap of $7.77 million, a P/E ratio of -0.33 and a beta of 2.75. Innovative Eyewear has a 12-month low of $3.03 and a 12-month high of $27.20. The business’s 50 day simple moving average is $4.74 and its 200 day simple moving average is $6.09.

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.