Zacks: Analysts Set $4.50 Target Price for Luna Innovations Incorporated (LUNA)

Shares of Luna Innovations Incorporated (NASDAQ:LUNA) have been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokerages have set a 1 year consensus target price of $4.50 for the company and are expecting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Luna Innovations an industry rank of 183 out of 255 based on the ratings given to related companies.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised Luna Innovations from a “hold” rating to a “strong-buy” rating and set a $4.50 target price on the stock in a research report on Friday, March 8th. B. Riley lifted their price target on Luna Innovations from $4.60 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, ValuEngine upgraded Luna Innovations from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd.

A number of large investors have recently modified their holdings of the stock. Deutsche Bank AG raised its position in Luna Innovations by 12,592.3% during the 4th quarter. Deutsche Bank AG now owns 9,900 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 9,822 shares during the last quarter. Alambic Investment Management L.P. boosted its holdings in shares of Luna Innovations by 27.5% in the 4th quarter. Alambic Investment Management L.P. now owns 130,690 shares of the scientific and technical instruments company’s stock valued at $438,000 after acquiring an additional 28,216 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Luna Innovations by 0.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 468,147 shares of the scientific and technical instruments company’s stock valued at $1,568,000 after acquiring an additional 3,125 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Luna Innovations by 29.6% in the third quarter. Dimensional Fund Advisors LP now owns 503,203 shares of the scientific and technical instruments company’s stock worth $1,625,000 after acquiring an additional 114,946 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Luna Innovations by 25.9% in the third quarter. Vanguard Group Inc. now owns 864,099 shares of the scientific and technical instruments company’s stock worth $2,791,000 after acquiring an additional 177,962 shares during the period. Institutional investors own 21.17% of the company’s stock.

Shares of NASDAQ:LUNA traded down $0.09 on Monday, hitting $4.11. 108,100 shares of the company were exchanged, compared to its average volume of 77,658. The company has a market capitalization of $118.13 million, a P/E ratio of 102.75 and a beta of 0.66. Luna Innovations has a 1-year low of $2.68 and a 1-year high of $4.65.

Luna Innovations Company Profile

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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