In the last trading session, 1.16 million Luna Innovations Inc (NASDAQ:LUNA) shares changed hands as the company’s beta touched 1.34. With the company’s per share price at $3.14 changed hands at -$0.41 or -11.55% during last session, the market valuation stood at $106.63M. LUNA’s last price was a discount, traded about -240.76% off its 52-week high of $10.70. The share price had its 52-week low at $3.50, which suggests the last value was -11.46% down since then. When we look at Luna Innovations Inc’s average trading volume, we note the 10-day average is 1.18 million shares, with the 3-month average coming to 283.84K.
Luna Innovations Inc (NASDAQ:LUNA) trade information
Instantly LUNA was in red as seen at the end of in last trading. With action -19.07%, the performance over the past five days has been red. The drop to weekly highs of 4.13 subtracted -11.55% to the stock’s daily price. The company’s shares are showing year-to-date downside of -52.78%, with the 5-day performance at -19.07% in the red. However, in the 30-day time frame, Luna Innovations Inc (NASDAQ:LUNA) is -55.59% down. Looking at the short shares, we see there were 1.68 million shares sold at short interest cover period of 12.95 days.
Luna Innovations Inc (LUNA) estimates and forecasts
Data shows that the Luna Innovations Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -47.14% over the past 6 months, a 23.81% in annual growth rate that is considerably higher than the industry average of 18.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Luna Innovations Inc will rise 62.50%. Year-over-year growth is forecast to reach 11.10% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $36.78 million. 1 analysts are of the opinion that Luna Innovations Inc’s revenue for the quarter ending Mar 2024 will be $32.05 million. The company’s revenue for the corresponding quarters a year ago was $31.7 million and $24.27 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 16.00%. The estimates for the next quarter sales put growth at 32.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 16.69%. The 2024 estimates are for Luna Innovations Inc earnings to increase by 19.60%.
LUNA Dividends
Luna Innovations Inc is expected to release its next quarterly earnings report between May 07 and May 13.
Luna Innovations Inc (NASDAQ:LUNA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.03% of Luna Innovations Inc shares while 60.52% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.72%. There are 60.52% institutions holding the Luna Innovations Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 6.09% of the shares, roughly 2.07 million LUNA shares worth $18.84 million.
Ack Asset Management Llc holds the second largest percentage of outstanding shares, with 5.44% or 1.84 million shares worth $16.82 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Pennsylvania Mutual Fund Inc. With 0.96 million shares estimated at $8.76 million under it, the former controlled 2.83% of total outstanding shares. On the other hand, Pennsylvania Mutual Fund Inc held about 2.26% of the shares, roughly 0.77 million shares worth around $6.99 million.
