Wall Street analysts predict that Luna Innovations Incorporated (NASDAQ:LUNA – Get Rating) will post $0.03 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Luna Innovations’ earnings. The highest EPS estimate is $0.03 and the lowest is $0.02. Luna Innovations reported earnings per share of $0.06 during the same quarter last year, which would suggest a negative year over year growth rate of 50%. The company is scheduled to report its next earnings report on Monday, January 1st.
Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Luna Innovations.
Luna Innovations (NASDAQ:LUNA – Get Rating) last issued its quarterly earnings results on Monday, May 16th. The scientific and technical instruments company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The business had revenue of $22.48 million for the quarter, compared to the consensus estimate of $21.04 million. Luna Innovations had a return on equity of 5.51% and a net margin of 11.88%. During the same quarter in the prior year, the business posted $0.01 earnings per share.
LUNA has been the topic of a number of recent research reports. Northland Securities raised shares of Luna Innovations from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a research note on Monday, May 23rd. B. Riley cut their price target on shares of Luna Innovations from $12.00 to $11.50 in a report on Tuesday, May 17th. StockNews.com started coverage on shares of Luna Innovations in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded shares of Luna Innovations from a “buy” rating to a “hold” rating in a research note on Friday, May 27th.
LUNA traded down $0.11 during midday trading on Friday, hitting $6.12. 121,288 shares of the company were exchanged, compared to its average volume of 213,331. Luna Innovations has a 1-year low of $4.97 and a 1-year high of $12.99. The company has a quick ratio of 1.60, a current ratio of 2.55 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average price is $6.14 and its 200-day moving average price is $7.13. The firm has a market capitalization of $198.41 million, a P/E ratio of 17.49 and a beta of 1.28.
Several institutional investors and hedge funds have recently modified their holdings of LUNA. Rice Hall James & Associates LLC boosted its stake in shares of Luna Innovations by 26.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 390,782 shares of the scientific and technical instruments company’s stock worth $3,013,000 after purchasing an additional 82,395 shares during the period. Royal Bank of Canada lifted its position in Luna Innovations by 33.9% during the first quarter. Royal Bank of Canada now owns 48,096 shares of the scientific and technical instruments company’s stock valued at $371,000 after acquiring an additional 12,170 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Luna Innovations by 55.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,664 shares of the scientific and technical instruments company’s stock worth $236,000 after buying an additional 10,895 shares during the last quarter. State Street Corp raised its position in shares of Luna Innovations by 2.6% in the 1st quarter. State Street Corp now owns 699,290 shares of the scientific and technical instruments company’s stock valued at $5,392,000 after purchasing an additional 17,809 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Luna Innovations by 12.0% in the first quarter. Renaissance Technologies LLC now owns 144,901 shares of the scientific and technical instruments company’s stock valued at $1,117,000 after purchasing an additional 15,500 shares during the period. 53.42% of the stock is currently owned by institutional investors and hedge funds.
About Luna Innovations (Get Rating)
Luna Innovations Incorporated develops, manufactures, and markets fiber optic test, measurement, and control products worldwide. The company offers optical test and measurement products, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and Hyperion sensing solution that enables full-spectrum data acquisition and flexible peak detect algorithms of fiber-bragg gratings (FBGs), long period FBGs, and fabry-perot sensors with low-latency access to data for closed loop feedback applications.
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