Luna Innovations (NASDAQ:LUNA) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Luna Innovations (NASDAQ:LUNA) from a sell rating to a hold rating in a research report report published on Thursday.

Separately, Needham & Company LLC restated a buy rating and set a $8.00 target price on shares of Luna Innovations in a research report on Monday, May 6th.

Luna Innovations Price Performance

Shares of Luna Innovations stock opened at $2.90 on Thursday. Luna Innovations has a one year low of $1.91 and a one year high of $9.25. The stock’s 50-day moving average is $3.17 and its 200 day moving average is $4.30. The firm has a market cap of $98.48 million, a price-to-earnings ratio of -36.25 and a beta of 1.55.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in Luna Innovations by 75.0% during the 4th quarter. Wasatch Advisors LP now owns 1,260,077 shares of the scientific and technical instruments company’s stock worth $8,380,000 after buying an additional 539,933 shares during the period. Pinnacle Associates Ltd. raised its stake in Luna Innovations by 4.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock worth $1,034,000 after buying an additional 7,209 shares during the period. BNP Paribas Financial Markets raised its stake in Luna Innovations by 672.6% during the 1st quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after buying an additional 60,547 shares during the period. Avenir Corp raised its stake in Luna Innovations by 35.3% during the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock worth $1,471,000 after buying an additional 57,700 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Luna Innovations by 4.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company’s stock worth $1,627,000 after purchasing an additional 10,300 shares during the last quarter. 87.46% of the stock is owned by institutional investors and hedge funds.

Luna Innovations Company Profile

Luna Innovations Incorporated provides fiber optic test, measurement, and control products worldwide. The company offers test and measurement equipment for fiber optic components and sub-assemblies; polarization control products, including components, modules, and instruments to measure, manage, and control polarization and group delay in fiber optic networks; tunable lasers; and single frequency lasers.