Wasatch Advisors LP Raises Stake in Luna Innovations Incorporated (NASDAQ:LUNA)

Wasatch Advisors LP boosted its holdings in shares of Luna Innovations Incorporated (NASDAQ:LUNA - Free Report) by 60.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,023,242 shares of the scientific and technical instruments company's stock after acquiring an additional 763,165 shares during the period. Wasatch Advisors LP owned 5.96% of Luna Innovations worth $6,484,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LUNA. Pinnacle Associates Ltd. lifted its position 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 valued at $1,034,000 after acquiring an additional 7,209 shares during the period. AMH Equity Ltd raised its holdings in Luna Innovations by 7.7% in the fourth quarter. AMH Equity Ltd now owns 1,619,778 shares of the scientific and technical instruments company's stock worth $10,772,000 after buying an additional 116,425 shares during the last quarter. Skylands Capital LLC raised its holdings in Luna Innovations by 14.1% in the fourth quarter. Skylands Capital LLC now owns 239,653 shares of the scientific and technical instruments company's stock worth $1,594,000 after buying an additional 29,650 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Luna Innovations by 72.5% in the fourth 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. Finally, Private Portfolio Partners LLC purchased a new position in Luna Innovations in the fourth quarter worth about $136,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

Luna Innovations Stock Performance

Shares of LUNA remained flat at $2.96 during mid-day trading on Tuesday. 282,656 shares of the stock traded hands, compared to its average volume of 446,576. The business has a 50-day moving average price of $3.03 and a 200-day moving average price of $4.82. Luna Innovations Incorporated has a 1 year low of $1.91 and a 1 year high of $9.57. The company has a market cap of $100.35 million, a PE ratio of -36.94 and a beta of 1.55.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LUNA. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of Luna Innovations in a report on Monday, May 6th. StockNews.com cut shares of Luna Innovations from a "hold" rating to a "sell" rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.00.

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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