$23.19 million in sales expected for Luna Innovations Incorporated (NASDAQ:LUNA) this quarter

Analysts expect Luna Innovations Incorporated (NASDAQ:LUNA) to post revenue of $23.19 million for the current quarter, according to Zacks. Two analysts provided earnings estimates for Luna Innovations, with the lowest sales estimate of $23.00 million and the highest estimate of $23.38 million. Luna Innovations reported sales of $25.92 million in the same quarter last year, suggesting a negative 10.5% year-over-year growth rate. The company is expected to release its next quarterly results on Thursday, March 10.

According to Zacks, analysts expect Luna Innovations to report annual revenue of $97.94 million for the current fiscal year. For next year, analysts expect the company to post sales of $105.68 million, with estimates ranging from $103.36 million to $108.00 million. Zacks Investment Research’s sales calculations are an average average based on a survey of sell-side analysts who track Luna Innovations.

Luna Innovations Inc (NASDAQ:LUNA) last released its quarterly results on Monday, November 15. The scientific and technical instruments company reported earnings per share (EPS) of $0.03 for the quarter, missing analyst consensus estimates of $0.05 per ($0.02). The company posted revenue of $20.33 million in the quarter, versus a consensus estimate of $30.60 million. Luna Innovations recorded a positive return on equity of 5.66% and a negative net margin of 0.26%. In the same quarter a year earlier, the company had earned earnings per share of $0.12.

A number of analysts have recently released reports on LUNA shares. Zacks Investment Research downgraded Luna Innovations from a “hold” rating to a “sell” rating in a Friday, November 19 research report. B. Riley lowered his price target on Luna Innovations from $14.50 to $12.00 and set a “Buy” rating for the company in a Tuesday, November 16 research report. Finally, Northland Securities lowered its price target on Luna Innovations from $10.00 to $9.00 and set a “market performance” rating for the company in a Tuesday, November 16 research report.

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Shares of LUNA opened at $7.40 on Friday. The company has a market capitalization of $236.56 million, a PE ratio of -740.00 and a beta of 1.03. The company has a fifty-day moving average of $8.63 and a 200-day moving average of $9.84. Luna Innovations has a 52-week low of $7.21 and a 52-week high of $13.05. The company has a quick ratio of 1.70, a current ratio of 2.45 and a debt ratio of 0.16.

Major investors have recently increased or reduced their stake in the company. Metropolitan Life Insurance Co NY increased its position in Luna Innovations shares by 40,162.5% during the second quarter. Metropolitan Life Insurance Co NY now owns 3,221 shares of the scientific and technical instruments company worth $35,000 after buying 3,213 additional shares in the last quarter. Advisory Services Network LLC purchased a new stake in Luna Innovations stock during the second quarter at a value of $48,000. BNP Paribas Arbitrage SA increased its position in Luna Innovations shares by 336.4% during the third quarter. BNP Paribas Arbitrage SA now owns 5,673 shares of the scientific and technical instruments company worth $54,000 after buying an additional 4,373 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Luna Innovations stock during the third quarter at a value of $101,000. Finally, MetLife Investment Management LLC increased its stake in Luna Innovations shares by 455.3% during the second quarter. MetLife Investment Management LLC now owns 11,906 shares of the scientific and technical instruments company valued at $129,000 after purchasing an additional 9,762 shares during the period. Institutional investors and hedge funds hold 48.82% of the company’s shares.

Luna Innovations Company Profile

Luna Innovations, Inc engages in the development and manufacture of fiber optic test and measurement, sensing and instrumentation products for the automotive, aerospace, energy and infrastructure industries . It operates through the following segments: Lightwave and Luna Labs. The Lightwave segment develops, manufactures and markets distributed fiber optic sensing products and fiber optic communications test and control products.

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