Luna Innovations Incorporated (NASDAQ:LUNA) Expected to Announce Quarterly Sales of $16.32 Million

Wall Street brokerages expect Luna Innovations Incorporated (NASDAQ:LUNA) to report sales of $16.32 million for the current quarter, Zacks reports. Two analysts have provided estimates for Luna Innovations’ earnings, with estimates ranging from $16.00 million to $16.64 million. Luna Innovations posted sales of $10.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 52.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Luna Innovations will report full-year sales of $0.00 for the current year. For the next financial year, analysts expect that the company will post sales of $73.44 million. Zacks’ sales averages are an average based on a survey of research firms that cover Luna Innovations.

Luna Innovations (NASDAQ:LUNA) last released its quarterly earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $0.02 earnings per share for the quarter. The firm had revenue of $17.81 million for the quarter, compared to analysts’ expectations of $15.62 million. Luna Innovations had a net margin of 20.67% and a return on equity of 4.97%.

Several equities research analysts have recently weighed in on LUNA shares. ValuEngine cut shares of Luna Innovations from a “buy” rating to a “hold” rating in a research report on Thursday. Northland Securities upgraded shares of Luna Innovations from a “market perform” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research note on Thursday. Finally, Zacks Investment Research lowered shares of Luna Innovations from a “buy” rating to a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Luna Innovations has an average rating of “Buy” and a consensus target price of $5.33.

Shares of Luna Innovations stock traded up $0.05 on Wednesday, hitting $5.50. 364,299 shares of the company’s stock were exchanged, compared to its average volume of 94,303. The firm has a 50-day moving average of $4.86. The company has a market capitalization of $158.07 million, a PE ratio of 137.50 and a beta of 0.74. Luna Innovations has a 1 year low of $2.68 and a 1 year high of $5.91.

In other Luna Innovations news, major shareholder Clinic Carilion sold 14,579 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $5.00, for a total value of $72,895.00. Following the completion of the sale, the insider now owns 1,989,775 shares of the company’s stock, valued at $9,948,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 270,060 shares of company stock valued at $1,381,901 in the last ninety days. 11.20% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in shares of Luna Innovations by 12,592.3% in the fourth quarter. Deutsche Bank AG now owns 9,900 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 9,822 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Luna Innovations during the 1st quarter valued at about $47,000. Acadian Asset Management LLC grew its holdings in Luna Innovations by 11.9% during the 1st quarter. Acadian Asset Management LLC now owns 116,199 shares of the scientific and technical instruments company’s stock valued at $484,000 after purchasing an additional 12,397 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Luna Innovations by 818.7% during the 2nd quarter. Wells Fargo & Company MN now owns 22,968 shares of the scientific and technical instruments company’s stock valued at $103,000 after purchasing an additional 20,468 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Luna Innovations by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,290,450 shares of the scientific and technical instruments company’s stock valued at $5,807,000 after purchasing an additional 29,943 shares during the last quarter. Institutional investors own 21.86% of the company’s stock.

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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