Maxim Group Begins Coverage on Innovative Eyewear (NASDAQ:LUCY)

Maxim Group initiated coverage on shares of Innovative Eyewear (NASDAQ:LUCY) in a research report report published on Monday, MarketBeat.com reports. The firm issued a buy rating and a $1.75 target price on the stock.

Innovative Eyewear Stock Up 0.9 %

Shares of NASDAQ:LUCY opened at $0.72 on Monday. The company has a 50 day moving average of $0.74 and a 200-day moving average of $1.54. Innovative Eyewear has a twelve month low of $0.58 and a twelve month high of $5.50.

Hedge Funds Weigh In On Innovative Eyewear

A hedge fund recently bought a new stake in Innovative Eyewear stock. Renaissance Technologies LLC acquired a new stake in Innovative Eyewear, Inc. (NASDAQ:LUCY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,900 shares of the company’s stock, valued at approximately $58,000. Renaissance Technologies LLC owned 0.47% of Innovative Eyewear as of its most recent SEC filing. 7.93% of the stock is owned by institutional investors.

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.