Dimensional Fund Advisors LP grew its holdings in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 82.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 388,257 shares of the scientific and technical instruments company’s stock after purchasing an additional 175,903 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Luna Innovations were worth $1,157,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in Luna Innovations by 6.9% during the second quarter. Janney Montgomery Scott LLC now owns 450,400 shares of the scientific and technical instruments company’s stock worth $1,342,000 after purchasing an additional 29,000 shares during the period. Acadian Asset Management LLC boosted its position in Luna Innovations by 106.1% during the second quarter. Acadian Asset Management LLC now owns 128,838 shares of the scientific and technical instruments company’s stock worth $384,000 after purchasing an additional 66,327 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Luna Innovations by 96.5% during the first quarter. JPMorgan Chase & Co. now owns 63,491 shares of the scientific and technical instruments company’s stock worth $206,000 after purchasing an additional 31,184 shares during the period. Hedge funds and other institutional investors own 23.37% of the company’s stock.
A number of equities analysts have weighed in on LUNA shares. Zacks Investment Research lowered shares of Luna Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Northland Securities lowered shares of Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 target price for the company. in a research report on Friday, August 3rd. Finally, Dawson James started coverage on shares of Luna Innovations in a research report on Tuesday, October 2nd. They set a “buy” rating for the company.
Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $13.77 million during the quarter, compared to analyst estimates of $12.90 million. Luna Innovations had a net margin of 34.13% and a return on equity of 4.98%. On average, sell-side analysts expect that Luna Innovations Incorporated will post 0.03 EPS for the current fiscal year.
Luna Innovations 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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