Insider Selling: Innovative Eyewear, Inc. (NASDAQ:LUCY) Major Shareholder Sells 258,483 Shares of Stock

Innovative Eyewear, Inc. (NASDAQ:LUCY) major shareholder Vladimir Galkin sold 258,483 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $7.27, for a total value of $1,879,171.41. Following the transaction, the insider now directly owns 420,000 shares of the company’s stock, valued at $3,053,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Innovative Eyewear Stock Performance

LUCY traded up $1.15 on Tuesday, reaching $10.20. 220,424 shares of the company’s stock were exchanged, compared to its average volume of 1,204,185. The stock’s fifty day moving average price is $5.06 and its 200-day moving average price is $6.55. Innovative Eyewear, Inc. has a twelve month low of $3.26 and a twelve month high of $27.20.

Innovative Eyewear (NASDAQ:LUCY) last posted its quarterly earnings results on Monday, August 12th. The company reported ($1.87) EPS for the quarter. Innovative Eyewear had a negative return on equity of 128.67% and a negative net margin of 513.65%. The firm had revenue of $0.31 million for the quarter.

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.