Luna Innovations Incorporated (NASDAQ:LUNA) Sees Unusually-High Trading Volume on Earnings Beat

Shares of Luna Innovations Incorporated (NASDAQ:LUNA) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. 1,454,528 shares changed hands during mid-day trading, an increase of 3,397% from the previous session’s volume of 41,594 shares.The stock last traded at $1.42 and had previously closed at $1.21.

The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. Luna Innovations had a negative net margin of 3.88% and a negative return on equity of 6.54%.

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

The stock’s market capitalization is $39.11 million. The company’s 50 day moving average is $1.38 and its 200 day moving average is $1.62.

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Luna Innovations Company Profile

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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