Wall Street analysts expect Luna Innovations Incorporated (NASDAQ:LUNA) to post $17.81 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Luna Innovations’ earnings. The highest sales estimate is $17.81 million and the lowest is $17.80 million. Luna Innovations reported sales of $10.69 million during the same quarter last year, which indicates a positive year over year growth rate of 66.6%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Luna Innovations will report full year sales of $68.34 million for the current financial year, with estimates ranging from $68.27 million to $68.40 million. For the next fiscal year, analysts forecast that the company will post sales of $78.64 million, with estimates ranging from $76.48 million to $80.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Luna Innovations.

Luna Innovations (NASDAQ:LUNA) last released its quarterly earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $0.02 earnings per share (EPS) for the quarter. Luna Innovations had a return on equity of 4.97% and a net margin of 20.67%. The firm had revenue of $17.81 million for the quarter, compared to analyst estimates of $15.62 million.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Luna Innovations from a “hold” rating to a “strong-buy” rating and set a $6.75 price target on the stock in a report on Thursday, August 15th. Northland Securities raised Luna Innovations from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a report on Thursday, August 8th. ValuEngine lowered Luna Innovations from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, TheStreet raised Luna Innovations from a “c+” rating to a “b” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Luna Innovations currently has an average rating of “Buy” and an average price target of $5.92.

Shares of NASDAQ LUNA traded down $0.01 during midday trading on Tuesday, reaching $5.79. 79,595 shares of the company were exchanged, compared to its average volume of 283,545. Luna Innovations has a 1 year low of $2.68 and a 1 year high of $6.90. The stock has a fifty day simple moving average of $5.99 and a 200 day simple moving average of $4.98. The stock has a market cap of $163.13 million, a P/E ratio of 144.75 and a beta of 0.71.

In other Luna Innovations news, major shareholder Clinic Carilion sold 14,579 shares of Luna Innovations stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $5.00, for a total value of $72,895.00. Following the sale, the insider now owns 1,989,775 shares of the company’s stock, valued at approximately $9,948,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 989,903 shares of company stock worth $5,847,654 in the last ninety days. 11.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. River & Mercantile Asset Management LLP acquired a new position in Luna Innovations in the 2nd quarter worth about $1,557,000. Morgan Stanley raised its holdings in Luna Innovations by 9.7% in the 2nd quarter. Morgan Stanley now owns 217,025 shares of the scientific and technical instruments company’s stock worth $976,000 after purchasing an additional 19,190 shares during the period. BlackRock Inc. raised its holdings in Luna Innovations by 67.4% in the 2nd quarter. BlackRock Inc. now owns 500,914 shares of the scientific and technical instruments company’s stock worth $2,254,000 after purchasing an additional 201,612 shares during the period. Alambic Investment Management L.P. raised its holdings in Luna Innovations by 2.0% in the 2nd quarter. Alambic Investment Management L.P. now owns 101,890 shares of the scientific and technical instruments company’s stock worth $459,000 after purchasing an additional 2,000 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Luna Innovations by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,290,450 shares of the scientific and technical instruments company’s stock worth $5,807,000 after purchasing an additional 29,943 shares during the period. 24.01% 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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Earnings History and Estimates for Luna Innovations (NASDAQ:LUNA)

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