Luna Innovations (LUNA) Getting Somewhat Favorable News Coverage, Study Finds

Media coverage about Luna Innovations (NASDAQ:LUNA) has trended somewhat positive on Thursday, according to Accern Sentiment Analysis. The research group rates the sentiment of press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Luna Innovations earned a news impact score of 0.07 on Accern’s scale. Accern also assigned headlines about the scientific and technical instruments company an impact score of 44.5226583382583 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Separately, Zacks Investment Research cut Luna Innovations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th.

Shares of Luna Innovations (NASDAQ LUNA) traded up $0.08 during trading on Thursday, hitting $2.58. The company had a trading volume of 189,800 shares, compared to its average volume of 142,800. The company has a current ratio of 3.83, a quick ratio of 3.32 and a debt-to-equity ratio of 0.02. Luna Innovations has a twelve month low of $1.16 and a twelve month high of $2.65. The firm has a market capitalization of $71.01, a PE ratio of 6.00 and a beta of 1.49.

Luna Innovations announced that its Board of Directors has approved a share repurchase program on Wednesday, September 20th that authorizes the company to buyback $2.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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About Luna Innovations

Luna Innovations Incorporated develops, manufactures and markets fiber optic sensing and test, and measurement products. The Company is focused on bringing technology solutions to measure and monitor processes in the aerospace, automotive, energy, composite, telecommunications and defense industries.

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