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

By Ryan Adsit

Northland Securities analyst Tim Savageaux maintained a Hold rating on Luna Innovations Inc (LUNAResearch Report) today and set a price target of $4. The company’s shares closed yesterday at $4.38.

According to TipRanks.com, Savageaux is a 3-star analyst with an average return of 2.6% and a 46.2% 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.

Currently, the analyst consensus on Luna Innovations Inc is a Moderate Buy with an average price target of $4.75.

See today’s analyst top recommended stocks >>

Based on Luna Innovations Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.13 million. In comparison, last year the company had a net profit of $148.7K.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LUNA in relation to earlier this year. Earlier this month, 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.