Luna Innovations Incorporated (NASDAQ:LUNA – Get Free Report)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.99 and traded as low as $3.28. Luna Innovations shares last traded at $3.44, with a volume of 236,491 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Luna Innovations in a research report on Monday, May 6th. StockNews.com downgraded Luna Innovations from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Luna Innovations presently has a consensus rating of “Hold” and a consensus target price of $10.00.
Read Our Latest Analysis on Luna Innovations
Luna Innovations Stock Performance
Institutional Investors Weigh In On Luna Innovations
Several hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in Luna Innovations by 54.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,220 shares of the scientific and technical instruments company’s stock valued at $41,000 after acquiring an additional 2,192 shares in the last quarter. Keeley Teton Advisors LLC acquired a new stake in shares of Luna Innovations during the first quarter worth approximately $64,000. Alpine Global Management LLC purchased a new position in Luna Innovations during the first quarter valued at approximately $75,000. Private Portfolio Partners LLC acquired a new position in Luna Innovations in the 4th quarter valued at approximately $136,000. Finally, BNP Paribas Financial Markets increased its stake in Luna Innovations by 672.6% in the 1st quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock valued at $223,000 after buying an additional 60,547 shares during the period. 87.46% of the stock is owned by hedge funds and other institutional investors.
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.
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