Luna Innovations (NASDAQ:LUNA) Shares Pass Below 200 Day Moving Average of $6.16

Luna Innovations Incorporated (NASDAQ:LUNAGet Rating)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.16 and traded as low as $5.31. Luna Innovations shares last traded at $5.31, with a volume of 45,066 shares traded.

Analyst Upgrades and Downgrades

LUNA has been the subject of a number of research reports. Northland Securities upgraded shares of Luna Innovations from a “market perform” rating to an “outperform” rating and set a $8.00 target price for the company in a research report on Monday, May 23rd. B. Riley decreased their price target on shares of Luna Innovations from $12.00 to $11.50 in a research note on Tuesday, May 17th.

Luna Innovations Trading Down 3.5 %

The stock’s fifty day moving average price is $5.99 and its 200 day moving average price is $6.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.57 and a quick ratio of 1.53. The stock has a market capitalization of $174.22 million, a P/E ratio of 18.31 and a beta of 1.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUNA. Amalgamated Bank bought a new stake in shares of Luna Innovations in the 1st quarter valued at about $39,000. SeaCrest Wealth Management LLC bought a new stake in shares of Luna Innovations in the 2nd quarter valued at about $39,000. Advisor Group Holdings Inc. boosted its holdings in shares of Luna Innovations by 312.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,384 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 4,080 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Luna Innovations in the 2nd quarter valued at about $62,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Luna Innovations by 119.1% in the 4th quarter. BNP Paribas Arbitrage SA now owns 12,432 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 6,759 shares in the last quarter. 54.58% of the stock is currently owned by institutional investors.

About Luna Innovations

(Get Rating)

Luna Innovations Incorporated develops, manufactures, and markets fiber optic test, measurement, and control products worldwide. The company offers optical test and measurement products, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and Hyperion sensing solution that enables full-spectrum data acquisition and flexible peak detect algorithms of fiber-bragg gratings (FBGs), long period FBGs, and fabry-perot sensors with low-latency access to data for closed loop feedback applications.

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