Luna Innovations (NASDAQ:LUNA) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Luna Innovations (NASDAQ:LUNA) from a hold rating to a sell rating in a research report released on Friday morning.

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

Luna Innovations Price Performance

Luna Innovations stock opened at $2.74 on Friday. Luna Innovations has a 52-week low of $1.91 and a 52-week high of $9.23. The firm has a fifty day moving average of $3.17 and a 200-day moving average of $4.20.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LUNA. AMH Equity Ltd boosted its stake in Luna Innovations by 7.7% during the 4th quarter. AMH Equity Ltd now owns 1,619,778 shares of the scientific and technical instruments company’s stock valued at $10,772,000 after acquiring an additional 116,425 shares during the last quarter. Skylands Capital LLC boosted its stake in Luna Innovations by 14.1% during the 4th quarter. Skylands Capital LLC now owns 239,653 shares of the scientific and technical instruments company’s stock valued at $1,594,000 after acquiring an additional 29,650 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Luna Innovations by 72.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 42,377 shares of the scientific and technical instruments company’s stock worth $282,000 after buying an additional 17,808 shares during the last quarter. Private Portfolio Partners LLC bought a new position in shares of Luna Innovations in the 4th quarter worth about $136,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Luna Innovations by 4.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company’s stock worth $1,627,000 after buying an additional 10,300 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors.

About Luna Innovations

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.