Luna Innovations (LUNA) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS
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.
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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