In a report released yesterday, Matthew Galinko from Maxim Group initiated coverage with a Buy rating on Innovative Eyewear, Inc. (LUCY – Research Report) and a price target of $1.75. The company’s shares closed yesterday at $0.71.
Galinko covers the Technology sector, focusing on stocks such as American Software, Adeia, and Unisys. According to TipRanks, Galinko has an average return of -10.8% and a 35.56% success rate on recommended stocks.
Innovative Eyewear, Inc. has an analyst consensus of Moderate Buy, with a price target consensus of $1.75.
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Based on Innovative Eyewear, Inc.’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $169.93 thousand and a GAAP net loss of $1.29 million. In comparison, last year the company earned a revenue of $204.74 thousand and had a GAAP net loss of $1.19 million
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Innovative Eyewear Inc is engaged in developing and selling eyeglasses and sunglasses, which are designed to allow the customers to remain connected to their digital lives, while also offering prescription eyewear and sun protection. Its products Lucyd Lyte glasses enable the wearer to listen to music, take and make calls, and use voice assistants to perform many common smartphone tasks hands-free.
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