Luna Innovations (NASDAQ:LUNA) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Luna Innovations (NASDAQ:LUNAGet Rating) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

A number of other research analysts have also recently weighed in on LUNA. TheStreet cut Luna Innovations from a c- rating to a d+ rating in a research report on Tuesday, September 20th. B. Riley lowered their price objective on shares of Luna Innovations from $11.50 to $9.50 and set a buy rating on the stock in a research note on Friday, November 11th.

Luna Innovations Price Performance

Shares of NASDAQ:LUNA opened at $6.08 on Tuesday. The firm has a market capitalization of $200.41 million, a price-to-earnings ratio of 19.00 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 1.42. The business’s 50 day simple moving average is $5.01 and its 200-day simple moving average is $5.55. Luna Innovations has a 12 month low of $4.06 and a 12 month high of $9.14.

Institutional Trading of Luna Innovations

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in Luna Innovations by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 105,453 shares of the scientific and technical instruments company’s stock worth $813,000 after purchasing an additional 1,962 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Luna Innovations by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 81,051 shares of the scientific and technical instruments company’s stock worth $625,000 after buying an additional 3,841 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Luna Innovations by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 297,945 shares of the scientific and technical instruments company’s stock valued at $1,654,000 after buying an additional 4,000 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Luna Innovations by 26.3% during the first quarter. Raymond James & Associates now owns 20,167 shares of the scientific and technical instruments company’s stock valued at $155,000 after buying an additional 4,200 shares during the period. Finally, Rhumbline Advisers boosted its position in Luna Innovations by 19.4% during the first quarter. Rhumbline Advisers now owns 26,164 shares of the scientific and technical instruments company’s stock worth $202,000 after acquiring an additional 4,251 shares during the last quarter. 54.58% of the stock is currently owned by hedge funds and other institutional investors.

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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