Luna Innovations Incorporated (NASDAQ:LUNA) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 74.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,855 shares of the scientific and technical instruments company’s stock after selling 26,024 shares during the period. Rhumbline Advisers’ holdings in Luna Innovations were worth $28,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LUNA. Summit Securities Group LLC bought a new position in Luna Innovations in the 2nd quarter valued at about $45,000. Keeley Teton Advisors LLC bought a new position in shares of Luna Innovations in the first quarter valued at approximately $64,000. Alpine Global Management LLC acquired a new position in shares of Luna Innovations during the first quarter valued at approximately $75,000. Allspring Global Investments Holdings LLC bought a new stake in Luna Innovations during the second quarter worth approximately $107,000. Finally, BNP Paribas Financial Markets lifted its position in Luna Innovations by 672.6% in the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after purchasing an additional 60,547 shares during the period. 87.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Luna Innovations in a research report on Sunday. They set a “sell” rating on the stock.

Luna Innovations Trading Down 9.4 %

Shares of NASDAQ LUNA opened at $2.13 on Wednesday. Luna Innovations Incorporated has a twelve month low of $1.91 and a twelve month high of $7.92. The firm has a 50-day moving average of $2.43 and a two-hundred day moving average of $2.82. The company has a market capitalization of $72.33 million, a price-to-earnings ratio of -26.63 and a beta of 1.58.

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.