Luna Innovations Incorporated (NASDAQ:LUNA) has received an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Luna Innovations’ rating score has improved by 33.3% in the last 90 days as a result of a number of analysts’ ratings changes.
Brokerages have set a 12 month consensus target price of $4.78 for the company and are anticipating that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given Luna Innovations an industry rank of 211 out of 257 based on the ratings given to related companies.
A number of research analysts recently weighed in on the company. Northland Securities lowered Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 price objective on the stock. in a report on Friday, August 3rd. Zacks Investment Research raised Luna Innovations from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Dawson James initiated coverage on Luna Innovations in a report on Tuesday, October 2nd. They issued a “buy” rating on the stock.
A number of institutional investors have recently bought and sold shares of the business. Alambic Investment Management L.P. grew its holdings in Luna Innovations by 21.1% in the second quarter. Alambic Investment Management L.P. now owns 106,574 shares of the scientific and technical instruments company’s stock valued at $318,000 after purchasing an additional 18,563 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Luna Innovations by 6.9% in the second 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. JPMorgan Chase & Co. grew its holdings in Luna Innovations by 96.5% in the first quarter. JPMorgan Chase & Co. now owns 63,491 shares of the scientific and technical instruments company’s stock valued at $206,000 after purchasing an additional 31,184 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Luna Innovations by 106.1% in the second 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, Dimensional Fund Advisors LP grew its holdings in Luna Innovations by 50.3% in the first quarter. Dimensional Fund Advisors LP now owns 212,354 shares of the scientific and technical instruments company’s stock valued at $688,000 after purchasing an additional 71,055 shares during the last quarter. 23.37% 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.
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