Luna Innovations (NASDAQ:LUNA) Downgraded by TheStreet

TheStreet downgraded shares of Luna Innovations (NASDAQ:LUNAGet Rating) from a c- rating to a d+ rating in a research report sent to investors on Tuesday morning, TheStreetRatingsTable reports.

Separately, Northland Securities raised shares of Luna Innovations from a market perform rating to an outperform rating and set a $8.00 price target on the stock in a research note on Monday, May 23rd.

Luna Innovations Trading Up 2.2 %

Shares of LUNA stock opened at $4.64 on Tuesday. The business’s 50 day moving average is $5.84 and its two-hundred day moving average is $6.06. Luna Innovations has a twelve month low of $4.47 and a twelve month high of $10.20. The company has a market capitalization of $152.24 million, a P/E ratio of 16.00 and a beta of 1.27. The company has a current ratio of 2.57, a quick ratio of 1.53 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Luna Innovations

Several hedge funds have recently modified their holdings of LUNA. Advisor Group Holdings Inc. boosted its stake in shares of Luna Innovations by 312.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,384 shares of the scientific and technical instruments company’s stock worth $45,000 after purchasing an additional 4,080 shares during the last quarter. Raymond James & Associates boosted its position in shares of Luna Innovations by 14.3% in the fourth quarter. Raymond James & Associates now owns 15,967 shares of the scientific and technical instruments company’s stock worth $135,000 after acquiring an additional 2,000 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Luna Innovations by 119.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 12,432 shares of the scientific and technical instruments company’s stock worth $105,000 after acquiring an additional 6,759 shares during the last quarter. Alpha Paradigm Partners LLC boosted its position in shares of Luna Innovations by 144.0% in the fourth quarter. Alpha Paradigm Partners LLC now owns 24,294 shares of the scientific and technical instruments company’s stock worth $205,000 after acquiring an additional 14,337 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of Luna Innovations by 46.0% in the fourth quarter. Rice Hall James & Associates LLC now owns 308,387 shares of the scientific and technical instruments company’s stock worth $2,603,000 after acquiring an additional 97,136 shares during the last quarter. 54.58% of the stock is owned by institutional investors and hedge funds.

Luna Innovations Company Profile

(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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