Analysts expect Luna Innovations Incorporated (NASDAQ:LUNA) to announce $12.28 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Luna Innovations’ earnings, with estimates ranging from $12.26 million to $12.30 million. Luna Innovations reported sales of $13.22 million during the same quarter last year, which indicates a negative year over year growth rate of 7.1%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, March 19th.
According to Zacks, analysts expect that Luna Innovations will report full-year sales of $45.27 million for the current financial year, with estimates ranging from $41.64 million to $48.90 million. For the next fiscal year, analysts forecast that the business will report sales of $48.41 million, with estimates ranging from $46.81 million to $50.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Luna Innovations.
Luna Innovations (NASDAQ:LUNA) last released its quarterly earnings data on Thursday, November 15th. The scientific and technical instruments company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Luna Innovations had a return on equity of 6.18% and a net margin of 20.93%. The business had revenue of $10.69 million during the quarter, compared to the consensus estimate of $9.90 million.
Several brokerages recently commented on LUNA. Dawson James began coverage on Luna Innovations in a research report on Tuesday, October 2nd. They set a “buy” rating for the company. Zacks Investment Research upgraded Luna Innovations from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Luna Innovations by 25.9% during the 3rd quarter. Vanguard Group Inc. now owns 864,099 shares of the scientific and technical instruments company’s stock worth $2,791,000 after purchasing an additional 177,962 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Luna Innovations by 82.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 388,257 shares of the scientific and technical instruments company’s stock valued at $1,157,000 after buying an additional 175,903 shares in the last quarter. Renaissance Technologies LLC increased its position in Luna Innovations by 8.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,104,905 shares of the scientific and technical instruments company’s stock valued at $3,293,000 after buying an additional 87,000 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Luna Innovations by 106.1% during the 2nd quarter. Acadian Asset Management LLC now owns 128,838 shares of the scientific and technical instruments company’s stock valued at $384,000 after purchasing an additional 66,327 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Luna Innovations by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 450,400 shares of the scientific and technical instruments company’s stock valued at $1,342,000 after purchasing an additional 29,000 shares during the last quarter. 23.91% of the stock is currently owned by institutional investors.
Shares of LUNA stock remained flat at $$3.45 on Wednesday. The stock had a trading volume of 21,211 shares, compared to its average volume of 57,289. The firm has a market capitalization of $95.82 million, a PE ratio of 34.50 and a beta of 0.82. Luna Innovations has a 52 week low of $2.03 and a 52 week high of $4.32.
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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