Q2 2021 EPS Estimates for Luna Innovations Incorporated Increased by B. Riley (NASDAQ:LUNA)


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Luna Innovations Incorporated (NASDAQ:LUNA) – Research analysts at B. Riley boosted their Q2 2021 earnings estimates for shares of Luna Innovations in a research report issued on Monday, January 11th. B. Riley analyst D. Kang now anticipates that the scientific and technical instruments company will earn $0.06 per share for the quarter, up from their previous forecast of $0.05. B. Riley has a “Buy” rating and a $12.50 price objective on the stock. B. Riley also issued estimates for Luna Innovations’ Q3 2021 earnings at $0.07 EPS, FY2021 earnings at $0.26 EPS, Q1 2022 earnings at $0.05 EPS, Q2 2022 earnings at $0.07 EPS, Q3 2022 earnings at $0.08 EPS, Q4 2022 earnings at $0.10 EPS and FY2022 earnings at $0.31 EPS.

Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Monday, November 9th. The scientific and technical instruments company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.08. Luna Innovations had a return on equity of 10.72% and a net margin of 7.21%. The company had revenue of $21.05 million during the quarter, compared to the consensus estimate of $21.15 million.

Several other equities research analysts also recently weighed in on LUNA. BidaskClub downgraded Luna Innovations from a “buy” rating to a “hold” rating in a research report on Saturday, December 12th. Zacks Investment Research raised Luna Innovations from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $10.17.

Shares of NASDAQ LUNA opened at $10.26 on Tuesday. Luna Innovations has a 1-year low of $4.50 and a 1-year high of $10.90. The business has a 50-day moving average of $9.68 and a 200-day moving average of $7.13. The company has a market capitalization of $316.40 million, a price-to-earnings ratio of 57.00 and a beta of 1.25.

Institutional investors and hedge funds have recently modified their holdings of the stock. Benson Investment Management Company Inc. purchased a new position in Luna Innovations in the fourth quarter valued at about $37,000. BNP Paribas Arbitrage SA boosted its holdings in Luna Innovations by 553.0% in the third quarter. BNP Paribas Arbitrage SA now owns 7,085 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 6,000 shares during the last quarter. UBS Group AG lifted its holdings in Luna Innovations by 243.4% during the 2nd quarter. UBS Group AG now owns 14,077 shares of the scientific and technical instruments company’s stock worth $82,000 after buying an additional 9,978 shares during the last quarter. American International Group Inc. bought a new position in Luna Innovations during the 2nd quarter worth approximately $103,000. Finally, PDT Partners LLC bought a new position in Luna Innovations during the 2nd quarter worth approximately $104,000. 40.58% of the stock is owned by hedge funds and other institutional investors.

About Luna Innovations

Luna Innovations Incorporated develops, manufactures, and markets fiber optic sensing, and test and measurement products worldwide. It operates through two segments, Products and Licensing, and Technology Development. The Products and Licensing segment offers test and measurement products, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; optical distributed sensor interrogator sensing solutions for distributed strain and temperature measurements; and Hyperion sensing solution that enable full-spectrum data acquisition and flexible peak detect algorithms of fiber-bragg grating (FBG), long period FBGs and fabry-perot sensors with low-latency access to data for closed loop feedback applications.

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Earnings History and Estimates for Luna Innovations (NASDAQ:LUNA)

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