Luna Innovations Inc (NASDAQ:LUNA) price on current trading day, rose 14.20% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.85.
A look at the stock’s price movement, the level at last check in today’s session was $1.62, moving within a range at $1.7124 and $1.98. The beta value (5-Year monthly) was 1.622. Turning to its 52-week performance, $7.92 and $1.43 were the 52-week high and 52-week low respectively. Overall, LUNA moved -1.60% over the past month.
Luna Innovations Inc’s market cap currently stands at around $62.82 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 35.19M for the company’s revenue for the quarter, with a low and high estimate of 35.19M and 35.19M respectively. The average forecast suggests up to a 11.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 120.1M, representing a 9.68% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that LUNA is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend LUNA as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
LUNA’s current price about 6.55% and 8.14% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.12, while 7-day volatility ratio is 7.93% and 8.63% in the 30-day chart. Further, Luna Innovations Inc (LUNA) has a beta value of 1.62, and an average true range (ATR) of 0.15. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $10 and high of $10. Looking at the price targets, the low is -440.54% off recent price level in today’s trading while to achieve the yearly target high, it has to move -440.54%. Nonetheless, investors will most likely welcome a -440.54% jump to $10 which is the analysts’ median price.
If we refocus on Luna Innovations Inc (NASDAQ:LUNA), historical trading data shows that trading volumes averaged 0.14 over the past 10 days and 170.88K over the past 3 months. The company’s latest data on shares outstanding shows there are 33.94 million shares.
The 7.71% of Luna Innovations Inc’s shares are in the hands of company insiders while institutional holders own 47.57% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.69 million on 2024-11-29, giving us a short ratio of 9.73. The data shows that as of 2024-11-29 short interest in Luna Innovations Inc (LUNA) stood at 512.0 of shares outstanding, with shares short falling to 1.87 million registered in 2024-10-31. Current price change has pushed the stock -72.18% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the LUNA stock continues to rise going into the next quarter.
