Northland Securities Reaffirms Their Buy Rating on Luna Innovations Inc (LUNA)


Northland Securities analyst Tim Savageaux maintained a Buy rating on Luna Innovations Inc (LUNA) today and set a price target of $6. The company’s shares closed yesterday at $4.65.

Savageaux wrote:

“We are upgrading LUNA shares to OP and increasing our PT to $6.00 on the heels of the company’s much better than expected Q2 report and outlook, with solid contributions from the recent Photonics acquisitions adding to 30% growth in the company’s established Comm Test and Structural Test units, with sustainable drivers including SiPhotonics and ROADM R&D and production test in Comms and increasing Aerospace and Auto penetration in Structural/Sensor Test.”

According to TipRanks.com, Savageaux is a 3-star analyst with an average return of 3.1% and a 51.2% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Applied Optoelectronics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Luna Innovations Inc with a $5.75 average price target.

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Luna Innovations Inc’s market cap is currently $130.9M and has a P/E ratio of 49.89. The company has a Price to Book ratio of 2.04.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2019, Richard Roedel, a Director at LUNA bought 120,000 shares for a total of $98,400.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Luna Innovations, Inc. develops and manufactures fiber optic test and measurement, sensing and instrumentation products for the healthcare, telecommunications, energy and defense markets. It operates through two segments: Products and Licensing, and Technology Development.

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