StockNews.com started coverage on shares of Luna Innovations (NASDAQ:LUNA - Get Free Report) in a report issued on Thursday. The brokerage set a "sell" rating on the scientific and technical instruments company's stock.
Luna Innovations Stock Down 7.9 %
Shares of LUNA stock traded down $0.18 during trading hours on Thursday, reaching $2.10. The company's stock had a trading volume of 153,079 shares, compared to its average volume of 374,303. Luna Innovations has a fifty-two week low of $1.91 and a fifty-two week high of $7.92. The firm's 50 day simple moving average is $2.71 and its 200-day simple moving average is $3.40. The company has a market capitalization of $71.31 million, a price-to-earnings ratio of -26.25 and a beta of 1.55.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Private Portfolio Partners LLC bought a new stake in shares of Luna Innovations during the 4th quarter valued at approximately $136,000. Janney Montgomery Scott LLC lifted its stake 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 valued at $1,627,000 after acquiring an additional 10,300 shares during the last quarter. Wasatch Advisors LP grew its position 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 acquiring an additional 539,933 shares during the last quarter. Avenir Corp increased its holdings in Luna Innovations by 35.3% in the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company's stock worth $1,471,000 after purchasing an additional 57,700 shares in the last quarter. Finally, BNP Paribas Financial Markets raised 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 valued at $223,000 after purchasing an additional 60,547 shares during the last quarter. Institutional investors and hedge funds own 87.46% of the company's stock.
About Luna Innovations
(
Get Free Report)
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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