Wall Street brokerages expect Luna Innovations Incorporated (NASDAQ:LUNA) to announce $18.46 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Luna Innovations’ earnings, with estimates ranging from $18.42 million to $18.50 million. Luna Innovations reported sales of $13.54 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 36.3%. The business is scheduled to report its next earnings results on Monday, March 2nd.
On average, analysts expect that Luna Innovations will report full-year sales of $69.50 million for the current financial year, with estimates ranging from $69.49 million to $69.50 million. For the next fiscal year, analysts expect that the firm will report sales of $80.36 million, with estimates ranging from $79.22 million to $81.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Luna Innovations.
A number of analysts recently weighed in on LUNA shares. ValuEngine lowered shares of Luna Innovations from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Northland Securities raised shares of Luna Innovations from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Thursday, August 8th. TheStreet upgraded shares of Luna Innovations from a “c+” rating to a “b” rating in a report on Wednesday, August 14th. Finally, Zacks Investment Research upgraded shares of Luna Innovations from a “hold” rating to a “strong-buy” rating and set a $7.50 price target for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $6.17.
Several large investors have recently made changes to their positions in the company. Millennium Management LLC bought a new stake in Luna Innovations during the third quarter valued at about $1,040,000. Squarepoint Ops LLC raised its holdings in Luna Innovations by 111.5% in the third quarter. Squarepoint Ops LLC now owns 60,497 shares of the scientific and technical instruments company’s stock worth $350,000 after purchasing an additional 31,897 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Luna Innovations during the third quarter valued at about $88,000. Tower Research Capital LLC TRC purchased a new stake in shares of Luna Innovations during the third quarter valued at about $25,000. Finally, California Public Employees Retirement System boosted its holdings in shares of Luna Innovations by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 89,138 shares of the scientific and technical instruments company’s stock valued at $516,000 after buying an additional 4,900 shares in the last quarter. Institutional investors and hedge funds own 28.09% of the company’s stock.
Shares of LUNA traded up $0.13 during midday trading on Friday, reaching $7.48. 260,340 shares of the stock were exchanged, compared to its average volume of 169,324. The company has a market capitalization of $207.60 million, a P/E ratio of 187.00 and a beta of 0.78. Luna Innovations has a 52 week low of $2.68 and a 52 week high of $7.52. The company’s 50 day moving average is $6.48 and its two-hundred day moving average is $5.50.
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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