Luna Innovations (NASDAQ:LUNA) posted its quarterly earnings data on Thursday. The scientific and technical instruments company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03, MarketWatch Earnings reports. Luna Innovations had a return on equity of 4.98% and a net margin of 34.13%. The company had revenue of $10.69 million during the quarter, compared to analysts’ expectations 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.

Luna Innovations stock traded up $0.02 during mid-day trading on Friday, reaching $3.52. 58,173 shares of the company were exchanged, compared to its average volume of 48,529. Luna Innovations has a twelve month low of $1.53 and a twelve month high of $4.32. The stock has a market capitalization of $89.62 million, a price-to-earnings ratio of 41.00 and a beta of 0.74.

A number of institutional investors have recently bought and sold shares of the business. Alambic Investment Management L.P. lifted its position in Luna Innovations by 21.1% during the 2nd quarter. Alambic Investment Management L.P. now owns 106,574 shares of the scientific and technical instruments company’s stock worth $318,000 after acquiring an additional 18,563 shares during the period. Janney Montgomery Scott LLC lifted its position in Luna Innovations by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 450,400 shares of the scientific and technical instruments company’s stock worth $1,342,000 after acquiring an additional 29,000 shares during the period. JPMorgan Chase & Co. lifted its position in Luna Innovations by 96.5% during the 1st quarter. JPMorgan Chase & Co. now owns 63,491 shares of the scientific and technical instruments company’s stock worth $206,000 after acquiring an additional 31,184 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Luna Innovations by 106.1% in the 2nd quarter. Acadian Asset Management LLC now owns 128,838 shares of the scientific and technical instruments company’s stock valued at $384,000 after buying an additional 66,327 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Luna Innovations by 50.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 212,354 shares of the scientific and technical instruments company’s stock valued at $688,000 after buying an additional 71,055 shares during the period. 23.37% of the stock is owned by institutional investors.

A number of research firms have weighed in on LUNA. Dawson James began coverage on Luna Innovations in a research report on Tuesday, October 2nd. They set a “buy” rating for the company. Zacks Investment Research raised Luna Innovations from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Northland Securities cut Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 price objective for the company. in a research report on Friday, August 3rd.

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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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Earnings History for Luna Innovations (NASDAQ:LUNA)

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