Luna Innovations (NASDAQ:LUNA) released its quarterly earnings data on Thursday. The scientific and technical instruments company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03, MarketWatch Earnings reports. Luna Innovations had a net margin of 34.13% and a return on equity of 4.98%. The firm had revenue of $10.69 million for the quarter, compared to analyst estimates of $9.90 million. Luna Innovations updated its Q4 2018 guidance to $0.00-0.01 EPS and its FY 2018 guidance to $0.31-0.32 EPS.

NASDAQ LUNA traded up $0.02 on Friday, hitting $3.52. The stock had a trading volume of 58,173 shares, compared to its average volume of 48,529. Luna Innovations has a one year low of $1.53 and a one year high of $4.32. The stock has a market cap of $89.62 million, a price-to-earnings ratio of 41.00 and a beta of 0.74.

Several research analysts have commented on LUNA shares. Zacks Investment Research upgraded shares of Luna Innovations from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Dawson James started coverage on shares of Luna Innovations in a research report on Tuesday, October 2nd. They issued a “buy” rating for the company. Finally, Northland Securities cut 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.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew 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 worth $3,293,000 after purchasing an additional 87,000 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Luna Innovations by 6.9% in the 2nd 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 last quarter. Dimensional Fund Advisors LP grew 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 worth $1,157,000 after purchasing an additional 175,903 shares during the last quarter. Acadian Asset Management LLC grew its position in Luna Innovations by 106.1% in the 2nd 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 last quarter. Finally, Alambic Investment Management L.P. grew its position in Luna Innovations by 21.1% in the 2nd quarter. Alambic Investment Management L.P. now owns 106,574 shares of the scientific and technical instruments company’s stock worth $318,000 after purchasing an additional 18,563 shares during the last quarter. Hedge funds and other institutional investors own 23.37% of the company’s stock.

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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 for Luna Innovations (NASDAQ:LUNA)

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