Luna Innovations Incorporated (NASDAQ:LUNA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Luna Innovations Incorporated (NASDAQ:LUNA) has earned a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.50.

A number of research firms have issued reports on LUNA. Northland Securities raised their target price on Luna Innovations from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Friday, August 11th. Stifel Nicolaus assumed coverage on shares of Luna Innovations in a report on Friday, July 28th. They set a “buy” rating and a $12.50 price objective on the stock. B. Riley reduced their target price on shares of Luna Innovations from $12.00 to $11.50 and set a “buy” rating for the company in a research note on Friday, August 11th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Luna Innovations in a research note on Friday, August 11th. Finally, StockNews.com began coverage on shares of Luna Innovations in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

Luna Innovations Trading Up 7.5 %

Shares of Luna Innovations stock opened at $6.28 on Friday. The firm has a market cap of $213.02 million, a PE ratio of -125.57 and a beta of 1.33. Luna Innovations has a 1 year low of $4.90 and a 1 year high of $10.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.73. The stock has a fifty day moving average price of $6.20 and a 200-day moving average price of $7.56.

Luna Innovations (NASDAQ:LUNA) last posted its quarterly earnings data on Thursday, August 10th. The scientific and technical instruments company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Luna Innovations had a positive return on equity of 4.62% and a negative net margin of 1.21%. The company had revenue of $29.16 million for the quarter, compared to analysts’ expectations of $29.76 million. During the same quarter last year, the business posted ($0.04) EPS. Equities research analysts anticipate that Luna Innovations will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Luna Innovations in the first quarter worth $1,049,000. Bradley Foster & Sargent Inc. CT purchased a new stake in shares of Luna Innovations in the 1st quarter valued at about $647,000. Jump Financial LLC bought a new stake in shares of Luna Innovations during the 1st quarter valued at about $143,000. American International Group Inc. purchased a new position in shares of Luna Innovations during the second quarter worth about $141,000. Finally, Texas Capital Bank Wealth Management Services Inc. bought a new position in shares of Luna Innovations in the second quarter worth approximately $182,000. 53.75% of the stock is owned by institutional investors.

Luna Innovations Company Profile

Luna Innovations Incorporated provides fiber optic test, measurement, and control products worldwide. The company offers test and measurement equipment for fiber optic components and sub-assemblies; polarization control products, including components, modules, and instruments to measure, manage, and control polarization and group delay in fiber optic networks; tunable lasers; and single frequency lasers.