Luna Innovations (LUNA) Set to Announce Quarterly Earnings on Thursday

Luna Innovations (NASDAQ:LUNAGet Rating) will be issuing its quarterly earnings data before the market opens on Thursday, August 11th. Analysts expect the company to announce earnings of $0.03 per share for the quarter. Luna Innovations has set its FY 2022 guidance at EPS and its Q2 2022 guidance at EPS.

Luna Innovations (NASDAQ:LUNAGet Rating) last posted its earnings results on Monday, May 16th. The scientific and technical instruments company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. Luna Innovations had a net margin of 11.88% and a return on equity of 5.51%. The firm had revenue of $22.48 million during the quarter, compared to analysts’ expectations of $21.04 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, analysts expect Luna Innovations to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Luna Innovations Stock Performance

Luna Innovations stock opened at $6.40 on Thursday. The business has a 50 day moving average of $5.88 and a 200-day moving average of $6.38. Luna Innovations has a 1 year low of $4.88 and a 1 year high of $12.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.55 and a quick ratio of 1.60. The company has a market capitalization of $207.52 million, a P/E ratio of 18.29 and a beta of 1.24.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LUNA shares. Northland Securities raised Luna Innovations from a “market perform” rating to an “outperform” rating and set a $8.00 price objective for the company in a research note on Monday, May 23rd. B. Riley cut their price target on Luna Innovations from $12.00 to $11.50 in a report on Tuesday, May 17th.

Hedge Funds Weigh In On Luna Innovations

Several large investors have recently bought and sold shares of LUNA. Bank of New York Mellon Corp increased its position in shares of Luna Innovations by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 105,453 shares of the scientific and technical instruments company’s stock valued at $813,000 after purchasing an additional 1,962 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Luna Innovations by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 81,051 shares of the scientific and technical instruments company’s stock worth $625,000 after acquiring an additional 3,841 shares during the last quarter. Raymond James & Associates increased its holdings in Luna Innovations by 26.3% in the 1st quarter. Raymond James & Associates now owns 20,167 shares of the scientific and technical instruments company’s stock worth $155,000 after acquiring an additional 4,200 shares during the last quarter. Rhumbline Advisers increased its holdings in Luna Innovations by 19.4% in the 1st quarter. Rhumbline Advisers now owns 26,164 shares of the scientific and technical instruments company’s stock worth $202,000 after acquiring an additional 4,251 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Luna Innovations by 55.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,664 shares of the scientific and technical instruments company’s stock worth $236,000 after acquiring an additional 10,895 shares during the last quarter. 53.42% of the stock is currently owned by institutional investors.

About Luna Innovations

(Get Rating)

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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Earnings History for Luna Innovations (NASDAQ:LUNA)

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