Shares of Luna Innovations Incorporated (NASDAQ:LUNA) have been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokers have set a 12 month consensus price target of $4.75 for the company, according to Zacks. Zacks has also assigned Luna Innovations an industry rank of 87 out of 256 based on the ratings given to related companies.
Several research firms recently issued reports on LUNA. Northland Securities set a $5.00 price target on shares of Communications Systems and gave the company a “buy” rating in a report on Tuesday, May 14th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th.
Shares of LUNA stock traded up $0.04 on Tuesday, hitting $4.99. The stock had a trading volume of 96,974 shares, compared to its average volume of 89,323. The stock has a market capitalization of $140.35 million, a price-to-earnings ratio of 49.90 and a beta of 0.73. The business has a 50 day simple moving average of $4.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.29 and a quick ratio of 2.68. Luna Innovations has a 52-week low of $2.68 and a 52-week high of $5.40.
Luna Innovations (NASDAQ:LUNA) last posted its quarterly earnings results on Wednesday, May 8th. The scientific and technical instruments company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $14.83 million for the quarter, compared to analysts’ expectations of $12.80 million. Luna Innovations had a net margin of 22.56% and a return on equity of 5.52%. Sell-side analysts expect that Luna Innovations will post 0.08 earnings per share for the current year.
In related news, major shareholder Clinic Carilion sold 20,135 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $5.02, for a total value of $101,077.70. Following the sale, the insider now directly owns 2,147,030 shares of the company’s stock, valued at $10,778,090.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.20% of the company’s stock.
Several large investors have recently modified their holdings of the business. Deutsche Bank AG raised its holdings in shares of Luna Innovations by 12,592.3% during the fourth quarter. Deutsche Bank AG now owns 9,900 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 9,822 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Luna Innovations during the first quarter worth $47,000. Acadian Asset Management LLC raised its holdings in shares of Luna Innovations by 11.9% during the first quarter. Acadian Asset Management LLC now owns 116,199 shares of the scientific and technical instruments company’s stock worth $484,000 after purchasing an additional 12,397 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Luna Innovations by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 552,213 shares of the scientific and technical instruments company’s stock worth $1,850,000 after purchasing an additional 49,010 shares during the period. Finally, Punch & Associates Investment Management Inc. acquired a new stake in shares of Luna Innovations during the first quarter worth $417,000. 21.94% of the stock is currently owned by institutional investors.
About Luna Innovations
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.
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