Brokerages predict that Luna Innovations Incorporated (NASDAQ:LUNA) will post sales of $9.90 million for the current quarter, according to Zacks. Two analysts have made estimates for Luna Innovations’ earnings, with estimates ranging from $9.50 million to $10.30 million. Luna Innovations posted sales of $11.64 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.9%. The company is expected to report its next earnings report on Monday, November 12th.

On average, analysts expect that Luna Innovations will report full year sales of $43.71 million for the current financial year, with estimates ranging from $39.52 million to $47.90 million. For the next financial year, analysts expect that the business will report sales of $44.30 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Luna Innovations.

Luna Innovations (NASDAQ:LUNA) last released its quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Luna Innovations had a net margin of 34.13% and a return on equity of 4.98%. The business had revenue of $13.77 million for the quarter, compared to analysts’ expectations of $12.90 million.

A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Luna Innovations from a “hold” rating to a “strong sell” rating in a report on Thursday, June 28th. Northland Securities lowered shares of 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. Finally, Dawson James initiated coverage on shares of Luna Innovations in a research report on Tuesday, October 2nd. They issued a “buy” rating for the company.

Shares of NASDAQ:LUNA traded down $0.05 during trading on Friday, reaching $3.21. The stock had a trading volume of 52,100 shares, compared to its average volume of 122,709. Luna Innovations has a one year low of $1.47 and a one year high of $4.32. The stock has a market capitalization of $89.07 million, a P/E ratio of 40.75 and a beta of 0.83.

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Luna Innovations by 96.5% in the 1st quarter. JPMorgan Chase & Co. now owns 63,491 shares of the scientific and technical instruments company’s stock valued at $206,000 after purchasing an additional 31,184 shares during the last quarter. Alambic Investment Management L.P. raised its position in shares of Luna Innovations by 21.1% in the 2nd quarter. Alambic Investment Management L.P. now owns 106,574 shares of the scientific and technical instruments company’s stock valued at $318,000 after purchasing an additional 18,563 shares during the last quarter. Acadian Asset Management LLC raised its position 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 purchasing an additional 66,327 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 71,055 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Luna Innovations by 6.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 450,400 shares of the scientific and technical instruments company’s stock valued at $1,342,000 after purchasing an additional 29,000 shares during the last quarter. 23.32% 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 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.

Featured Article: Float

Get a free copy of the Zacks research report on Luna Innovations (LUNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Luna Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luna Innovations and related companies with MarketBeat.com's FREE daily email newsletter.