Luna Innovations (NASDAQ:LUNA) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Luna Innovations (NASDAQ:LUNA) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “LUNA INNOVATIONS INCORPORATED develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Luna develops technologies in four primary areas: Sensors & Systems; Health Sciences; Materials & Secure Computing. Luna’s product offerings generally fit into two categories: Instrumentation, Test & Measurement & Healthcare. The products are used to measure, monitor, protect and improve critical processes in the markets we serve. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. Luna is headquartered in Roanoke, Virginia. “

Other equities research analysts have also recently issued research reports about the company. Northland Securities cut Luna Innovations from an outperform rating to a market perform rating and set a $7.00 price objective for the company. in a research note on Friday, March 6th. ValuEngine raised Luna Innovations from a sell rating to a hold rating in a research note on Tuesday, March 3rd. Finally, B. Riley raised their price objective on Luna Innovations from $6.80 to $9.00 and gave the company a buy rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $8.17.

Shares of LUNA stock opened at $5.84 on Tuesday. The company has a market cap of $178.19 million, a P/E ratio of 64.89 and a beta of 1.09. The stock has a 50 day simple moving average of $6.18 and a two-hundred day simple moving average of $7.04. Luna Innovations has a fifty-two week low of $4.24 and a fifty-two week high of $9.32.

Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Thursday, May 7th. The scientific and technical instruments company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The business had revenue of $17.14 million during the quarter, compared to the consensus estimate of $17.01 million. Luna Innovations had a return on equity of 6.84% and a net margin of 4.26%. On average, research analysts predict that Luna Innovations will post 0.12 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Calamos Advisors LLC boosted its position in shares of Luna Innovations by 33.1% during the first quarter. Calamos Advisors LLC now owns 249,094 shares of the scientific and technical instruments company’s stock valued at $1,533,000 after buying an additional 61,925 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Luna Innovations by 3.8% during the first quarter. Acadian Asset Management LLC now owns 257,831 shares of the scientific and technical instruments company’s stock valued at $1,585,000 after buying an additional 9,430 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Luna Innovations by 85.0% during the first quarter. Russell Investments Group Ltd. now owns 215,456 shares of the scientific and technical instruments company’s stock valued at $1,323,000 after buying an additional 98,963 shares during the last quarter. Citigroup Inc. boosted its position in shares of Luna Innovations by 74.4% during the first quarter. Citigroup Inc. now owns 10,158 shares of the scientific and technical instruments company’s stock valued at $62,000 after buying an additional 4,335 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Luna Innovations during the first quarter valued at approximately $103,000. 39.83% of the stock is currently owned by institutional investors.

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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