Texas Capital Bank Wealth Management Services Inc. Acquires New Stake in Luna Innovations Incorporated (NASDAQ:LUNA)

Texas Capital Bank Wealth Management Services Inc. bought a new position in Luna Innovations Incorporated (NASDAQ:LUNA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the scientific and technical instruments company’s stock, valued at approximately $182,000. Texas Capital Bank Wealth Management Services Inc. owned 0.06% of Luna Innovations as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Luna Innovations by 2.0% during the third quarter. Vanguard Group Inc. now owns 1,425,331 shares of the scientific and technical instruments company’s stock valued at $6,329,000 after acquiring an additional 28,005 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Luna Innovations by 9.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 914,078 shares of the scientific and technical instruments company’s stock valued at $6,571,000 after purchasing an additional 79,064 shares in the last quarter. State Street Corp lifted its holdings in shares of Luna Innovations by 2.6% in the 1st quarter. State Street Corp now owns 699,290 shares of the scientific and technical instruments company’s stock worth $5,392,000 after buying an additional 17,809 shares during the period. Millennium Management LLC grew its position in shares of Luna Innovations by 253.8% during the 2nd quarter. Millennium Management LLC now owns 475,221 shares of the scientific and technical instruments company’s stock worth $2,771,000 after buying an additional 340,907 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Luna Innovations by 11.0% during the first quarter. Victory Capital Management Inc. now owns 455,850 shares of the scientific and technical instruments company’s stock valued at $3,278,000 after buying an additional 45,130 shares during the period. 53.75% of the stock is currently owned by institutional investors.

Luna Innovations Stock Performance

Shares of LUNA stock opened at $5.15 on Wednesday. The business has a fifty day moving average of $6.04 and a 200 day moving average of $7.54. Luna Innovations Incorporated has a 1 year low of $5.05 and a 1 year high of $10.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.73 and a current ratio of 3.12.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LUNA. StockNews.com lowered shares of Luna Innovations from a “hold” rating to a “sell” rating in a research note on Monday. B. Riley cut their price objective on shares of Luna Innovations from $12.00 to $11.50 and set a “buy” rating on the stock in a report on Friday, August 11th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Luna Innovations in a research note on Friday, August 11th. Northland Securities upped their target price on Luna Innovations from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Friday, August 11th. Finally, Stifel Nicolaus started coverage on Luna Innovations in a report on Friday, July 28th. They issued a “buy” rating and a $12.50 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

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.