$12.23 Million in Sales Expected for Luna Innovations Incorporated (LUNA) This Quarter

Equities research analysts forecast that Luna Innovations Incorporated (NASDAQ:LUNA) will announce sales of $12.23 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Luna Innovations’ earnings. The highest sales estimate is $12.30 million and the lowest is $12.14 million. Luna Innovations reported sales of $13.22 million in the same quarter last year, which suggests a negative year over year growth rate of 7.5%. The business is scheduled to report its next quarterly earnings report on Tuesday, March 19th.

On average, analysts expect that Luna Innovations will report full year sales of $46.44 million for the current fiscal year, with estimates ranging from $41.64 million to $48.90 million. For the next financial year, analysts anticipate that the company will report sales of $48.32 million, with estimates ranging from $46.81 million to $50.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Luna Innovations.

Luna Innovations (NASDAQ:LUNA) last posted its quarterly earnings results on Thursday, November 15th. The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ 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 recently weighed in on the stock. ValuEngine upgraded shares of Luna Innovations from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd. B. Riley assumed coverage on shares of Luna Innovations in a research report on Tuesday, January 15th. They issued a “buy” rating and a $4.60 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Luna Innovations currently has a consensus rating of “Buy” and an average price target of $4.30.

NASDAQ:LUNA traded up $0.07 during mid-day trading on Wednesday, hitting $3.24. The stock had a trading volume of 14,400 shares, compared to its average volume of 29,456. The company has a market cap of $90.53 million, a PE ratio of 31.70 and a beta of 0.67. Luna Innovations has a 52 week low of $2.18 and a 52 week high of $4.32.

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted 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 purchasing an additional 175,903 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Luna Innovations by 0.7% in the 4th 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 purchasing an additional 3,125 shares during the last quarter. Vanguard Group Inc. lifted its position in Luna Innovations by 25.9% in the 3rd 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 during the last quarter. Vanguard Group Inc lifted its position in Luna Innovations by 25.9% in the 3rd 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 during the last quarter. Finally, Renaissance Technologies LLC lifted 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 purchasing an additional 87,000 shares during the last quarter. Hedge funds and other institutional investors own 21.83% of the company’s stock.

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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Earnings History and Estimates for Luna Innovations (NASDAQ:LUNA)

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