Luna Innovations (LUNA) Receiving Somewhat Positive Media Coverage, Study Finds

News articles about Luna Innovations (NASDAQ:LUNA) have been trending somewhat positive on Tuesday, according to Accern Sentiment Analysis. The research firm ranks the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Luna Innovations earned a news sentiment score of 0.18 on Accern’s scale. Accern also assigned news stories about the scientific and technical instruments company an impact score of 45.6264607563144 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Shares of Luna Innovations (NASDAQ LUNA) traded up $0.10 during trading hours on Tuesday, reaching $2.41. 226,400 shares of the company traded hands, compared to its average volume of 129,856. Luna Innovations has a one year low of $1.16 and a one year high of $2.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.32 and a current ratio of 3.83.

Luna Innovations announced that its board has initiated a stock repurchase plan on Wednesday, September 20th that authorizes the company to repurchase $2.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of analysts have recently weighed in on LUNA shares. Zacks Investment Research downgraded shares of Luna Innovations from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Northland Securities set a $3.00 target price on shares of Luna Innovations and gave the stock a “buy” rating in a report on Monday, August 14th.

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About Luna Innovations

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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