Zacks: Analysts Set $4.78 Target Price for Luna Innovations Incorporated (LUNA)

Shares of Luna Innovations Incorporated (NASDAQ:LUNA) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Analysts have set a 12-month consensus price objective of $4.78 for the company and are expecting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned Luna Innovations an industry rank of 81 out of 256 based on the ratings given to related companies.

Separately, Dawson James started coverage on Luna Innovations in a research report on Tuesday, October 2nd. They issued a “buy” rating on the stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc grew its position in shares of Luna Innovations by 25.9% in the 3rd quarter. Vanguard Group Inc now owns 864,099 shares of the scientific and technical instruments company’s stock valued at $2,791,000 after buying an additional 177,962 shares during the last quarter. Vanguard Group Inc. raised its stake in Luna Innovations by 25.9% during the 3rd quarter. Vanguard Group Inc. now owns 864,099 shares of the scientific and technical instruments company’s stock worth $2,791,000 after buying an additional 177,962 shares during the period. Renaissance Technologies LLC raised its stake in shares of Luna Innovations by 1.9% in the third quarter. Renaissance Technologies LLC now owns 1,125,807 shares of the scientific and technical instruments company’s stock worth $3,636,000 after purchasing an additional 20,902 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Luna Innovations by 29.6% in the third quarter. Dimensional Fund Advisors LP now owns 503,203 shares of the scientific and technical instruments company’s stock worth $1,625,000 after purchasing an additional 114,946 shares during the last quarter. Finally, Alambic Investment Management L.P. grew 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 valued at $318,000 after acquiring an additional 18,563 shares in the last quarter. 23.91% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:LUNA opened at $3.44 on Wednesday. The stock has a market capitalization of $91.91 million, a PE ratio of 32.90 and a beta of 0.73. Luna Innovations has a twelve month low of $2.03 and a twelve month high of $4.32.

Luna Innovations (NASDAQ:LUNA) last released its quarterly earnings results on Thursday, November 15th. 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. The business had revenue of $10.69 million for the quarter, compared to the consensus estimate of $9.90 million. Luna Innovations had a net margin of 20.93% and a return on equity of 6.18%. As a group, research analysts anticipate that Luna Innovations will post 0.07 EPS for the current year.

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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