Do Investors Have Much Faith In Innovative Eyewear Inc (NASDAQ: LUCY)

Innovative Eyewear Inc (NASDAQ:LUCY) does about 37.62M shares in volume on a normal day but saw 2225436 shares change hands in Monday trading. The company now has a market cap of 9.19M USD. Its current market price is $0.39, marking a decrease of -6.36% compared to the previous close of $0.42. The 52 week high reached by this stock is $1.36 whilst the lowest price level in 52 weeks is $0.17.

Innovative Eyewear Inc (LUCY) has a 20-day trading average at $0.4284 and the current price is -71.21% off the 52-week high compared with 132.90% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.3993 and its 200-day simple moving average is $0.4064. If we look at the stock’s price movements over the week, volatility stands at 17.94%, which increases to 19.24% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 46.63 to suggest the stock is neutral.

The consensus objective for the share price is $1.00, suggesting that the stock has a potential upside of 61.0% over the period.

Innovative Eyewear Inc (LUCY) stock is down -20.91% over the week and -48.76% over the past month. Its price is -7.21% year-to-date and -53.39% over the past year.

The stock last released its quarterly earnings report for quarter ended 3/31/2024, with the company’s earnings per share (EPS) of -0.12 above consensus estimates by 0.02. The company’s next earnings report forecasts estimating quarterly EPS at -0.08 and -0.39 for whole year. Expected sales for next quarter are $1.2M, which analysts say will come at $3.9M for the current fiscal year and next year at $14M. In addition, estimates put the company’s current quarterly revenue at an average of $900k.

To reach the target analysts have set, the stock logically needs to grow 61.0 percent from here.

Outstanding shares total 23.48M with insiders holding 26.52% of the shares and institutional holders owning 0.76% of the company’s common stock. The company has a return on investment of -184.64% and return on equity of -170.47%. The beta has a value of 2.65. Price to book ratio is 1.33 and price to sales ratio is 6.61.