Luna Innovations Incorporated (LUNA) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Luna Innovations Incorporated (NASDAQ:LUNA) from a strong sell rating to a hold rating in a research report released on Wednesday, July 12th.

According to Zacks, “LUNA INNOVATIONS INCORPORATED develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Luna develops technologies in four primary areas: Sensors & Systems; Health Sciences; Materials & Secure Computing. Luna’s product offerings generally fit into two categories: Instrumentation, Test & Measurement & Healthcare. The products are used to measure, monitor, protect and improve critical processes in the markets we serve. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. Luna is headquartered in Roanoke, Virginia. “

Shares of Luna Innovations (LUNA) traded up 1.41% on Wednesday, reaching $1.44. The company’s stock had a trading volume of 877,711 shares. Luna Innovations has a 52-week low of $1.08 and a 52-week high of $2.33. The stock’s market cap is $39.66 million. The firm’s 50 day moving average is $1.38 and its 200-day moving average is $1.62.

Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Thursday, August 10th. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $13.58 million for the quarter, compared to analyst estimates of $14.20 million. Luna Innovations had a negative return on equity of 6.54% and a negative net margin of 3.88%. On average, equities research analysts forecast that Luna Innovations will post ($0.06) EPS for the current year.

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An institutional investor recently raised its position in Luna Innovations stock. Vanguard Group Inc. boosted its stake in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,489 shares of the scientific and technical instruments company’s stock after buying an additional 2,400 shares during the period. Vanguard Group Inc. owned about 1.73% of Luna Innovations worth $718,000 at the end of the most recent reporting period. Institutional investors own 9.92% of the company’s stock.

Luna Innovations Company Profile

Luna Innovations Incorporated develops, manufactures and markets fiber optic sensing and test, and measurement products. The Company is focused on bringing technology solutions to measure and monitor processes in the aerospace, automotive, energy, composite, telecommunications and defense industries.

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