Luna Innovations Incorporated (LUNA) Stock Price Up -1.4% Following Earnings Beat

Luna Innovations Incorporated (NASDAQ:LUNA) shares rose 1.4% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $1.54 and last traded at $1.40, with a volume of 255,023 shares. The stock had previously closed at $1.42.

The scientific and technical instruments company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Luna Innovations had a negative return on equity of 6.54% and a negative net margin of 3.88%. The business had revenue of $13.58 million during the quarter, compared to analysts’ expectations of $14.20 million.

Separately, Zacks Investment Research lowered Luna Innovations from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 17th.

The firm’s market cap is $38.56 million. The firm has a 50-day moving average price of $1.38 and a 200 day moving average price of $1.62.

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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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