Luna Innovations Incorporated (LUNA) Posts Earnings Results, Beats Estimates By $0.02 EPS
Luna Innovations Incorporated (NASDAQ:LUNA) announced its quarterly earnings results on Thursday. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02, Bloomberg Earnings reports. Luna Innovations had a negative return on equity of 4.97% and a negative net margin of 3.00%. The business had revenue of $13.58 million during the quarter, compared to analysts’ expectations of $14.20 million.
Luna Innovations (LUNA) opened at 1.44 on Friday. The stock’s market cap is $39.66 million. Luna Innovations has a 12 month low of $1.08 and a 12 month high of $2.33. The stock has a 50 day moving average price of $1.38 and a 200-day moving average price of $1.62.
Separately, Zacks Investment Research cut Luna Innovations from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
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A hedge fund recently raised its stake in Luna Innovations stock. Vanguard Group Inc. boosted its stake in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 475,489 shares of the scientific and technical instruments company’s stock after buying an additional 2,400 shares during the period. Vanguard Group Inc. owned approximately 1.73% of Luna Innovations worth $718,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.92% of the company’s stock.
About Luna Innovations
Luna Innovations Incorporated develops, manufactures and markets fiber optic sensing and test, and measurement products. The Company is focused on bringing technology solutions to measure and monitor processes in the aerospace, automotive, energy, composite, telecommunications and defense industries.
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