Luna Innovations (LUNA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Luna Innovations (NASDAQ:LUNA) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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. “

LUNA has been the subject of several other research reports. ValuEngine raised shares of Luna Innovations from a hold rating to a buy rating in a report on Saturday, February 2nd. B. Riley initiated coverage on shares of Luna Innovations in a report on Tuesday, January 15th. They set a buy rating and a $4.60 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $4.50.

Shares of LUNA opened at $4.38 on Wednesday. The stock has a market cap of $122.91 million, a price-to-earnings ratio of 109.50 and a beta of 0.67. Luna Innovations has a 12 month low of $2.68 and a 12 month high of $4.73.

Luna Innovations (NASDAQ:LUNA) last announced its quarterly earnings results on Wednesday, May 8th. The scientific and technical instruments company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $14.83 million during the quarter, compared to analysts’ expectations of $12.80 million. Luna Innovations had a net margin of 22.56% and a return on equity of 5.65%. On average, equities analysts expect that Luna Innovations will post 0.13 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Luna Innovations by 14,384.0% during the first quarter. JPMorgan Chase & Co. now owns 7,242 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 7,192 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Luna Innovations by 12,592.3% during the fourth quarter. Deutsche Bank AG now owns 9,900 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 9,822 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Luna Innovations during the first quarter worth approximately $47,000. Acadian Asset Management LLC increased its holdings in shares of Luna Innovations by 11.9% during the first quarter. Acadian Asset Management LLC now owns 116,199 shares of the scientific and technical instruments company’s stock worth $484,000 after buying an additional 12,397 shares in the last quarter. Finally, Alambic Investment Management L.P. increased its holdings in shares of Luna Innovations by 27.5% during the fourth quarter. Alambic Investment Management L.P. now owns 130,690 shares of the scientific and technical instruments company’s stock worth $438,000 after buying an additional 28,216 shares in the last quarter. 22.77% of the stock is owned by institutional investors.

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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