Luna Innovations (NASDAQ:LUNA) Price Target Cut to $9.50 by Analysts at B. Riley

Luna Innovations (NASDAQ:LUNAGet Rating) had its target price lowered by B. Riley from $11.50 to $9.50 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other brokerages also recently issued reports on LUNA. StockNews.com started coverage on Luna Innovations in a research report on Wednesday, October 12th. They issued a hold rating for the company. TheStreet downgraded Luna Innovations from a c- rating to a d+ rating in a research report on Tuesday, September 20th.

Luna Innovations Stock Up 18.6 %

NASDAQ LUNA opened at $6.13 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.53 and a current ratio of 2.57. The company has a market capitalization of $201.13 million, a P/E ratio of 19.16 and a beta of 1.37. Luna Innovations has a one year low of $4.06 and a one year high of $9.84. The stock has a 50 day moving average price of $4.92 and a 200-day moving average price of $5.52.

Luna Innovations (NASDAQ:LUNAGet Rating) last posted its earnings results on Thursday, August 11th. The scientific and technical instruments company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The firm had revenue of $26.16 million for the quarter, compared to the consensus estimate of $25.93 million. Luna Innovations had a net margin of 9.80% and a return on equity of 4.53%. As a group, equities analysts predict that Luna Innovations will post 0.1 EPS for the current fiscal year.

Institutional Trading of Luna Innovations

A number of hedge funds and other institutional investors have recently bought and sold shares of LUNA. Millennium Management LLC increased its stake in Luna Innovations by 253.8% in the second quarter. Millennium Management LLC now owns 475,221 shares of the scientific and technical instruments company’s stock worth $2,771,000 after purchasing an additional 340,907 shares during the period. Rice Hall James & Associates LLC increased its stake in Luna Innovations by 25.9% in the second quarter. Rice Hall James & Associates LLC now owns 491,967 shares of the scientific and technical instruments company’s stock worth $2,868,000 after purchasing an additional 101,185 shares during the period. Skylands Capital LLC purchased a new stake in Luna Innovations in the third quarter worth $411,000. GSA Capital Partners LLP increased its stake in Luna Innovations by 381.4% in the first quarter. GSA Capital Partners LLP now owns 74,142 shares of the scientific and technical instruments company’s stock worth $572,000 after purchasing an additional 58,742 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 during the period. Hedge funds and other institutional investors own 54.58% of the company’s stock.

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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