Zacks: Luna Innovations Incorporated (LUNA) Given Consensus Recommendation of “Buy” by Brokerages

Luna Innovations Incorporated (NASDAQ:LUNA) has been given an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 1 year consensus price target of $4.75 for the company, according to Zacks. Zacks has also assigned Luna Innovations an industry rank of 91 out of 256 based on the ratings given to related companies.

LUNA has been the topic of several recent research reports. B. Riley raised their price target on shares of Luna Innovations from $4.60 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. ValuEngine raised shares of Luna Innovations from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd. Zacks Investment Research cut shares of Luna Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $4.00 price target on shares of Luna Innovations in a research report on Tuesday, May 14th.

NASDAQ LUNA traded up $0.01 during trading hours on Thursday, hitting $4.41. The company’s stock had a trading volume of 616 shares, compared to its average volume of 88,097. Luna Innovations has a 52 week low of $2.68 and a 52 week high of $4.73. The stock has a market cap of $123.47 million, a price-to-earnings ratio of 110.14 and a beta of 0.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.05 and a current ratio of 3.29.

Luna Innovations (NASDAQ:LUNA) last announced its quarterly earnings results on Wednesday, May 8th. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. Luna Innovations had a net margin of 22.56% and a return on equity of 5.52%. The business had revenue of $14.83 million for the quarter, compared to analysts’ expectations of $12.80 million. On average, sell-side analysts predict that Luna Innovations will post 0.14 EPS for the current year.

Several institutional investors have recently bought and sold shares of LUNA. JPMorgan Chase & Co. raised its holdings in shares of Luna Innovations by 14,384.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,242 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 7,192 shares during the period. Deutsche Bank AG raised its holdings in shares of Luna Innovations by 12,592.3% in the 4th quarter. Deutsche Bank AG now owns 9,900 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 9,822 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Luna Innovations in the 1st quarter worth approximately $47,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Luna Innovations in the 1st quarter worth approximately $49,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Luna Innovations in the 1st quarter worth approximately $88,000. 22.45% of the stock is currently owned by hedge funds and other 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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