News coverage about Luna Innovations (NASDAQ:LUNA) has trended somewhat positive on Sunday, Accern reports. The research firm identifies negative and positive media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Luna Innovations earned a daily sentiment score of 0.03 on Accern’s scale. Accern also gave news coverage about the scientific and technical instruments company an impact score of 45.3138510814234 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Separately, Zacks Investment Research raised shares of Luna Innovations from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research report on Friday, November 17th.
Luna Innovations (NASDAQ LUNA) traded down $0.07 during mid-day trading on Friday, hitting $2.59. 182,001 shares of the stock were exchanged, compared to its average volume of 141,240. Luna Innovations has a twelve month low of $1.16 and a twelve month high of $2.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.83 and a quick ratio of 3.32. The firm has a market capitalization of $73.56, a P/E ratio of 6.02 and a beta of 1.49.
Luna Innovations announced that its board has authorized 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 buy up to 4.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management 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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