Luna Innovations Incorporated (NASDAQ:LUNA – Get Rating) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.59 and traded as high as $9.15. Luna Innovations shares last traded at $8.88, with a volume of 7,475 shares traded.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on LUNA shares. StockNews.com cut Luna Innovations from a "buy" rating to a "hold" rating in a report on Wednesday, November 30th. B. Riley lowered their price target on Luna Innovations from $11.50 to $9.50 and set a "buy" rating on the stock in a report on Friday, November 11th. Finally, TheStreet upgraded Luna Innovations from a "d+" rating to a "c" rating in a report on Friday, December 2nd.
Get Luna Innovations alerts:Luna Innovations Stock Down 1.9 %
The company has a current ratio of 2.38, a quick ratio of 1.42 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $292.70 million, a PE ratio of 27.75 and a beta of 1.39. The firm has a 50-day moving average of $6.59 and a two-hundred day moving average of $5.90.
Luna Innovations (NASDAQ:LUNA – Get Rating) last issued its earnings results on Thursday, November 10th. The scientific and technical instruments company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $29.15 million for the quarter, compared to analyst estimates of $29.15 million. Luna Innovations had a return on equity of 4.52% and a net margin of 9.80%. On average, equities research analysts forecast that Luna Innovations Incorporated will post 0.12 EPS for the current year.Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in LUNA. Millennium Management LLC grew its stake in shares of Luna Innovations by 253.8% during the second quarter. Millennium Management LLC now owns 475,221 shares of the scientific and technical instruments company's stock valued at $2,771,000 after acquiring an additional 340,907 shares in the last quarter. Marathon Capital Management acquired a new stake in shares of Luna Innovations during the third quarter valued at about $692,000. Rice Hall James & Associates LLC grew its stake in shares of Luna Innovations by 25.9% during the second quarter. Rice Hall James & Associates LLC now owns 491,967 shares of the scientific and technical instruments company's stock valued at $2,868,000 after acquiring an additional 101,185 shares in the last quarter. Skylands Capital LLC acquired a new stake in shares of Luna Innovations during the third quarter valued at about $411,000. Finally, Dimensional Fund Advisors LP grew its stake in Luna Innovations by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 804,995 shares of the scientific and technical instruments company's stock worth $6,207,000 after purchasing an additional 51,124 shares in the last quarter. 49.04% of the stock is owned by hedge funds and other institutional investors.
About Luna Innovations
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Luna Innovations Incorporated develops, manufactures, and markets fiber optic test, measurement, and control products worldwide. The company offers optical test and measurement products, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and Hyperion sensing solution that enables full-spectrum data acquisition and flexible peak detect algorithms of fiber-bragg gratings (FBGs), long period FBGs, and fabry-perot sensors with low-latency access to data for closed loop feedback applications.
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