Fintel reports that on May 31, 2023, Needham reiterated coverage of Luna Innovations (NASDAQ:LUNA) with a Buy recommendation.
Analyst Price Forecast Suggests 2.48% Upside
As of May 11, 2023, the average one-year price target for Luna Innovations is 9.52. The forecasts range from a low of 7.07 to a high of $12.60. The average price target represents an increase of 2.48% from its latest reported closing price of 9.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Luna Innovations is 132MM, an increase of 18.13%. The projected annual non-GAAP EPS is 0.32.
What is the Fund Sentiment?
There are 141 funds or institutions reporting positions in Luna Innovations. This is an increase of 17 owner(s) or 13.71% in the last quarter. Average portfolio weight of all funds dedicated to LUNA is 0.19%, a decrease of 33.04%. Total shares owned by institutions increased in the last three months by 1.22% to 20,041K shares. 
The put/call ratio of LUNA is 0.28, indicating a bullish outlook.
What are Other Shareholders Doing?
Royce & Associates holds 1,864K shares representing 5.58% ownership of the company. In it's prior filing, the firm reported owning 1,947K shares, representing a decrease of 4.44%. The firm decreased its portfolio allocation in LUNA by 25.41% over the last quarter.
ACK Asset Management holds 1,844K shares representing 5.52% ownership of the company. No change in the last quarter.
AMH Equity holds 1,516K shares representing 4.54% ownership of the company. In it's prior filing, the firm reported owning 1,644K shares, representing a decrease of 8.46%. The firm increased its portfolio allocation in LUNA by 58,162.82% over the last quarter.
Punch & Associates Investment Management holds 1,225K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 1,227K shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in LUNA by 18.73% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 960K shares representing 2.87% ownership of the company. No change in the last quarter.
Luna Innovations Background Information
(This description is provided by the company.)
Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for the aerospace and automotive industries. Luna is organized into two business segments, which work closely together to turn ideas into products: a Lightwave segment and a Luna Labs segment. Luna's business model is designed to accelerate the process of bringing new and innovative technologies to market.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
