Luna Innovations Incorporated (LUNA) Given $3.25 Consensus Price Target by Brokerages

Luna Innovations Incorporated (NASDAQ:LUNA) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price objective of $3.25 for the company and are forecasting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also given Luna Innovations an industry rank of 175 out of 265 based on the ratings given to related companies.

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A number of research firms have recently commented on LUNA. Zacks Investment Research downgraded Luna Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Northland Securities reiterated a “buy” rating and set a $3.25 target price on shares of Luna Innovations in a research report on Wednesday, March 21st.

Large investors have recently added to or reduced their stakes in the stock. Luzich Partners LLC purchased a new stake in Luna Innovations during the 3rd quarter valued at $766,000. EAM Investors LLC purchased a new stake in Luna Innovations during the 4th quarter valued at $666,000. Acadian Asset Management LLC purchased a new stake in Luna Innovations during the 4th quarter valued at $110,000. Alambic Investment Management L.P. purchased a new stake in Luna Innovations during the 4th quarter valued at $178,000. Finally, Vanguard Group Inc. raised its holdings in Luna Innovations by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 475,489 shares of the scientific and technical instruments company’s stock valued at $718,000 after buying an additional 2,400 shares during the period. Institutional investors own 18.14% of the company’s stock.

NASDAQ LUNA opened at $3.77 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.98 and a quick ratio of 3.51. Luna Innovations has a one year low of $1.16 and a one year high of $4.00.

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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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