Luna Innovations Incorporated (LUNA) Expected to Post Earnings of -$0.01 Per Share

Wall Street brokerages expect Luna Innovations Incorporated (NASDAQ:LUNA) to post earnings of ($0.01) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Luna Innovations’ earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.02). The company is expected to report its next earnings results on Wednesday, May 8th.

Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Luna Innovations.

A number of research analysts have issued reports on LUNA shares. Zacks Investment Research upgraded shares of Luna Innovations from a “hold” rating to a “strong-buy” rating and set a $4.50 target price on the stock in a report on Friday, March 8th. ValuEngine upgraded shares of Luna Innovations from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, B. Riley upped their target price on shares of Luna Innovations from $4.60 to $5.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $4.50.

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Luna Innovations by 29.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 503,203 shares of the scientific and technical instruments company’s stock valued at $1,625,000 after purchasing an additional 114,946 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Luna Innovations by 1.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,125,807 shares of the scientific and technical instruments company’s stock valued at $3,636,000 after acquiring an additional 20,902 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Luna Innovations by 0.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 468,147 shares of the scientific and technical instruments company’s stock valued at $1,568,000 after acquiring an additional 3,125 shares during the last quarter. Vanguard Group Inc increased its stake in shares of 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 valued at $2,791,000 after acquiring an additional 177,962 shares during the last quarter. Finally, Alambic Investment Management L.P. increased its stake in shares of Luna Innovations by 27.5% during the 4th quarter. Alambic Investment Management L.P. now owns 130,690 shares of the scientific and technical instruments company’s stock valued at $438,000 after acquiring an additional 28,216 shares during the last quarter. Institutional investors own 21.17% of the company’s stock.

Luna Innovations stock opened at $4.15 on Friday. Luna Innovations has a 52 week low of $2.68 and a 52 week high of $4.65. The stock has a market capitalization of $117.87 million, a P/E ratio of 103.75 and a beta of 0.66.

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.

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Earnings History and Estimates for Luna Innovations (NASDAQ:LUNA)

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