StockNews.com Lowers Luna Innovations (NASDAQ:LUNA) to Sell

Luna Innovations (NASDAQ:LUNAGet Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Luna Innovations Price Performance

Luna Innovations stock opened at $3.03 on Wednesday. The firm has a market capitalization of $102.90 million, a P/E ratio of -37.88 and a beta of 1.32. The business has a 50-day moving average of $6.13 and a 200-day moving average of $6.22. The company has a current ratio of 2.86, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. Luna Innovations has a 1 year low of $2.97 and a 1 year high of $10.70.

Institutional Investors Weigh In On Luna Innovations

Several hedge funds have recently bought and sold shares of LUNA. Vanguard Group Inc. increased its holdings in shares of Luna Innovations by 11.4% in the fourth quarter. Vanguard Group Inc. now owns 1,829,900 shares of the scientific and technical instruments company’s stock worth $12,169,000 after acquiring an additional 187,366 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Luna Innovations by 74.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 22,309 shares of the scientific and technical instruments company’s stock worth $148,000 after purchasing an additional 9,548 shares in the last quarter. Barclays PLC increased its stake in Luna Innovations by 704.3% during the 4th quarter. Barclays PLC now owns 45,159 shares of the scientific and technical instruments company’s stock worth $301,000 after purchasing an additional 39,544 shares in the last quarter. Royal Bank of Canada raised its holdings in Luna Innovations by 24.1% during the 4th quarter. Royal Bank of Canada now owns 76,582 shares of the scientific and technical instruments company’s stock worth $509,000 after buying an additional 14,871 shares during the period. Finally, Avenir Corp lifted its stake in Luna Innovations by 35.3% in the fourth quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock valued at $1,471,000 after buying an additional 57,700 shares in the last quarter. 87.46% of the stock is currently owned by institutional investors and hedge funds.

About Luna Innovations

(Get Free Report)

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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