Luna Innovations Incorporated (NASDAQ:LUNA) has been given a $3.00 target price by analysts at Northland Securities in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Northland Securities’ target price suggests a potential upside of 97.37% from the company’s current price.

Separately, Zacks Investment Research upgraded shares of Luna Innovations from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th.

Shares of Luna Innovations (NASDAQ:LUNA) opened at 1.52 on Monday. The stock’s 50 day moving average is $1.38 and its 200 day moving average is $1.61. Luna Innovations has a 12 month low of $1.08 and a 12 month high of $2.33. The stock’s market capitalization is $42.09 million.

Luna Innovations (NASDAQ:LUNA) last posted its quarterly earnings results on Thursday, August 10th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $13.58 million for the quarter, compared to analyst estimates of $14.20 million. Luna Innovations had a negative net margin of 3.00% and a negative return on equity of 5.00%. Analysts anticipate that Luna Innovations will post ($0.04) earnings per share for the current fiscal year.

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A hedge fund recently raised its stake in Luna Innovations stock. Vanguard Group Inc. raised its position in Luna Innovations Incorporated (NASDAQ:LUNA) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 about 1.73% of Luna Innovations worth $718,000 as of its most recent SEC filing. 9.92% 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. 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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