Wall Street brokerages predict that Luna Innovations Incorporated (NASDAQ:LUNA) will announce sales of $12.23 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Luna Innovations’ earnings. The lowest sales estimate is $12.14 million and the highest is $12.30 million. Luna Innovations reported sales of $13.22 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, March 19th.
On average, analysts expect that Luna Innovations will report full year sales of $46.44 million for the current financial year, with estimates ranging from $41.64 million to $48.90 million. For the next financial year, analysts anticipate that the firm will report sales of $48.32 million, with estimates ranging from $46.81 million to $50.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Luna Innovations.
Luna Innovations (NASDAQ:LUNA) last announced its quarterly earnings results on Thursday, November 15th. The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. Luna Innovations had a net margin of 20.93% and a return on equity of 6.18%. The company had revenue of $10.69 million for the quarter, compared to the consensus estimate of $9.90 million.
Several analysts have issued reports on LUNA shares. ValuEngine raised shares of Luna Innovations from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. B. Riley started coverage on shares of Luna Innovations in a report on Tuesday, January 15th. They issued a “buy” rating and a $4.60 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $4.30.
Shares of NASDAQ LUNA traded up $0.07 on Wednesday, hitting $3.24. The company’s stock had a trading volume of 14,400 shares, compared to its average volume of 29,456. Luna Innovations has a 12-month low of $2.18 and a 12-month high of $4.32. The company has a market capitalization of $90.53 million, a PE ratio of 31.70 and a beta of 0.67.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in shares of Luna Innovations by 1.9% in the third quarter. Renaissance Technologies LLC now owns 1,125,807 shares of the scientific and technical instruments company’s stock valued at $3,636,000 after purchasing an additional 20,902 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Luna Innovations by 25.9% in the third quarter. Vanguard Group Inc now owns 864,099 shares of the scientific and technical instruments company’s stock valued at $2,791,000 after purchasing an additional 177,962 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Luna Innovations by 25.9% in the third quarter. Vanguard Group Inc. now owns 864,099 shares of the scientific and technical instruments company’s stock valued at $2,791,000 after purchasing an additional 177,962 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Luna Innovations by 29.6% during the third quarter. Dimensional Fund Advisors LP now owns 503,203 shares of the scientific and technical instruments company’s stock valued at $1,625,000 after buying an additional 114,946 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Luna Innovations by 0.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 468,147 shares of the scientific and technical instruments company’s stock valued at $1,568,000 after buying an additional 3,125 shares during the period. 21.83% of the stock is currently owned by institutional investors.
About Luna Innovations
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.
Further Reading: How Does the Quiet Period Work?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Luna Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luna Innovations and related companies with MarketBeat.com's FREE daily email newsletter.