Equities analysts expect Luna Innovations Incorporated (NASDAQ:LUNA) to post $0.02 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Luna Innovations’ earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.02. Luna Innovations posted earnings of $0.03 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 33.3%. The business is expected to announce its next quarterly earnings results on Tuesday, March 19th.
Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Luna Innovations.
Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Thursday, November 8th. The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Luna Innovations had a net margin of 34.13% and a return on equity of 4.98%. The business had revenue of $10.69 million for the quarter, compared to analysts’ expectations of $9.90 million.
A number of brokerages have issued reports on LUNA. Zacks Investment Research raised shares of Luna Innovations from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Dawson James began coverage on shares of Luna Innovations in a report on Tuesday, October 2nd. They set a “buy” rating on the stock. Finally, Northland Securities cut shares of Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 target price on the stock. in a report on Friday, August 3rd.
LUNA stock traded up $0.02 during midday trading on Friday, reaching $3.52. 58,173 shares of the company’s stock traded hands, compared to its average volume of 48,529. Luna Innovations has a 52 week low of $1.53 and a 52 week high of $4.32. The stock has a market capitalization of $89.62 million, a price-to-earnings ratio of 41.00 and a beta of 0.74.
Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in shares of Luna Innovations by 8.5% in the second quarter. Renaissance Technologies LLC now owns 1,104,905 shares of the scientific and technical instruments company’s stock worth $3,293,000 after purchasing an additional 87,000 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Luna Innovations by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 450,400 shares of the scientific and technical instruments company’s stock worth $1,342,000 after purchasing an additional 29,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Luna Innovations by 82.8% in the second quarter. Dimensional Fund Advisors LP now owns 388,257 shares of the scientific and technical instruments company’s stock worth $1,157,000 after purchasing an additional 175,903 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Luna Innovations by 106.1% in the second quarter. Acadian Asset Management LLC now owns 128,838 shares of the scientific and technical instruments company’s stock worth $384,000 after purchasing an additional 66,327 shares during the period. Finally, Alambic Investment Management L.P. increased its holdings in shares of Luna Innovations by 21.1% in the second quarter. Alambic Investment Management L.P. now owns 106,574 shares of the scientific and technical instruments company’s stock worth $318,000 after purchasing an additional 18,563 shares during the period. 23.37% of the stock is currently owned by hedge funds and other institutional investors.
Luna Innovations Company Profile
Luna Innovations Incorporated develops, manufactures, and markets fiber optic sensing, and test and measurement products worldwide. It operates in two segments, Products and Licensing, and Technology Development. The Products and Licensing segment offers fiber optic sensing products, as well as test and measurement products to monitor the integrity of fiber optic network components and sub-assemblies, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and distributed sensing systems comprising optical distributed sensor interrogator sensing solution with multiple sensors whose inputs are integrated through a fiber optic network and software.
Featured Story: Short Selling
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Luna Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luna Innovations and related companies with MarketBeat.com's FREE daily email newsletter.