Fintel reports that on August 11, 2023, Needham reiterated coverage of Luna Innovations (NASDAQ:LUNA) with a Buy recommendation.
Analyst Price Forecast Suggests 33.36% Upside
As of August 2, 2023, the average one-year price target for Luna Innovations is 10.30. The forecasts range from a low of 7.07 to a high of $13.12. The average price target represents an increase of 33.36% from its latest reported closing price of 7.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Luna Innovations is 132MM, an increase of 15.05%. The projected annual non-GAAP EPS is 0.32.
What is the Fund Sentiment?
There are 144 funds or institutions reporting positions in Luna Innovations. This is an increase of 10 owner(s) or 7.46% in the last quarter. Average portfolio weight of all funds dedicated to LUNA is 0.18%, a decrease of 17.92%. Total shares owned by institutions increased in the last three months by 0.89% to 20,206K shares. 
The put/call ratio of LUNA is 0.23, indicating a bullish outlook.
What are Other Shareholders Doing?
ACK Asset Management holds 1,844K shares representing 5.52% ownership of the company. No change in the last quarter.
Royce & Associates holds 1,796K shares representing 5.38% ownership of the company. In it's prior filing, the firm reported owning 1,864K shares, representing a decrease of 3.76%. The firm increased its portfolio allocation in LUNA by 18.57% over 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.
Additional reading:
- Luna Innovations Reports Second-Quarter 2023 Results Reaffirms Full-Year 2023 Outlook
- Second-Quarter 2023 Results Investor Supplemental Materials August 10, 2023 Safe Harbor Luna Innovations Incorporated © 2 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This presentation includes information that con
- LUNA INNOVATIONS INCORPORATED 2023 EQUITY INCENTIVE PLAN ADOPTED BY THE COMPENSATION COMMITTEE: APRIL 14, 2023
- LUNA INNOVATIONS INCORPORATED RESTRICTED STOCK UNIT GRANT NOTICE (2023 EQUITY INCENTIVE PLAN)
- Luna Investor Day May 24, 2023 Safe Harbor Luna Innovations Incorporated © 2 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This presentation includes information that constitutes “forward-looking statements” made pu
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.
