Market cap of Innovative Eyewear Inc. [LUCY] reaches 33.18M – now what?

Innovative Eyewear Inc. [NASDAQ: LUCY] gained 201.37% on the last trading session, reaching $4.40 price per share at the time. The company report on April 11, 2023 that Innovative Eyewear, Inc. Launches The First ChatGPT Enabled Smart Eyewear.

Innovative Eyewear, Inc. (“Innovative Eyewear” or the “Company”) (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica®, and Eddie Bauer® brands, announces today that it has launched a new iOS/Android app called Lucyd. The Lucyd app enables a voice interface for ChatGPT on our smart eyewear. The user can ask questions to ChatGPT through microphones already built into our glasses and hear the responses through their stereo speakers. The app is device agnostic and works with many other hearables, including, but not limited to, AirPods®1. Additionally, the app may be used via a streamlined visual interface on any smartphone to enhance accessibility.

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“We are excited to be the first company to provide ChatGPT enabled smart eyewear. With our new Lucyd app, which is free to our eyewear customers, we are continuing to make smart eyewear more accessible and functional than ever before,” says Harrison Gross, CEO of Innovative Eyewear. “A great pair of smartglasses is defined by three key factors: fashion, tech, and suitability for all-day wear. The Lyte 2.0 collection successfully addresses these factors and now provides access to the world’s most popular AI assistant. By connecting to ChatGPT with your voice on Lucyd smart eyewear, you can access a wealth of detailed research on just about any subject, making it one of the most powerful mobile learning systems available.”.

Innovative Eyewear Inc. represents 7.32 million in outstanding shares, while the company has a total market value of $33.18 million with the latest information. LUCY stock price has been found in the range of $3.25 to $5.50.

If compared to the average trading volume of 1.64M shares, LUCY reached a trading volume of 88171618 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Innovative Eyewear Inc. [LUCY]:

The Average True Range (ATR) for Innovative Eyewear Inc. is set at 0.45, with the Price to Sales ratio for LUCY stock in the period of the last 12 months amounting to 41.47. The Price to Book ratio for the last quarter was 8.00, with the Price to Cash per share for the same quarter was set at 0.48.

Trading performance analysis for LUCY stock

Innovative Eyewear Inc. [LUCY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 168.55. With this latest performance, LUCY shares gained by 158.82% in over the last four-week period, additionally plugging by 67.30% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LUCY stock in for the last two-week period is set at 86.09, with the RSI for the last a single of trading hit 91.32, and the three-weeks RSI is set at 80.83 for Innovative Eyewear Inc. [LUCY]. The present Moving Average for the last 50 days of trading for this stock 1.9100, while it was recorded at 2.0200 for the last single week of trading.

Innovative Eyewear Inc. [LUCY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Innovative Eyewear Inc. [LUCY] shares currently have an operating margin of -845.22 and a Gross Margin at -8.53. Innovative Eyewear Inc.’s Net Margin is presently recorded at -861.16.

Return on Equity for this stock declined to -267.81, with Return on Assets sitting at -205.66.

Innovative Eyewear Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.90 and a Current Ratio set at 7.10.

An analysis of insider ownership at Innovative Eyewear Inc. [LUCY]

There are presently around $0 million, or 2.90% of LUCY stock, in the hands of institutional investors. The top three institutional holders of LUCY stocks are: SABBY MANAGEMENT, LLC with ownership of 75,000, which is approximately -49.842% of the company’s market cap and around 67.40% of the total institutional ownership; CITADEL ADVISORS LLC, holding 31,062 shares of the stock with an approximate value of $45000.0 in LUCY stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $18000.0 in LUCY stock with ownership of nearly New of the company’s market capitalization.

7 institutional holders increased their position in Innovative Eyewear Inc. [NASDAQ:LUCY] by around 58,925 shares. Additionally, 4 investors decreased positions by around 133,505 shares, while 0 investors held positions by with 58,505 shares. The mentioned changes placed institutional holdings at 133,925 shares, according to the latest SEC report filing. LUCY stock had 7 new institutional investments in for a total of 58,925 shares, while 3 institutional investors sold positions of 58,977 shares during the same period.


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