Luna Innovations Incorporated (NASDAQ:LUNA) Short Interest Up 10.4% in July

Luna Innovations Incorporated (NASDAQ:LUNA) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,120,000 shares, a growth of 10.4% from the July 15th total of 1,920,000 shares. Based on an average trading volume of 330,600 shares, the days-to-cover ratio is presently 6.4 days.

Luna Innovations Trading Down 3.3 %

Shares of NASDAQ LUNA opened at $2.35 on Friday. The firm has a market capitalization of $79.80 million, a price-to-earnings ratio of -29.38 and a beta of 1.55. Luna Innovations has a one year low of $1.91 and a one year high of $7.92. The business has a fifty day simple moving average of $3.02 and a 200 day simple moving average of $3.86.

Hedge Funds Weigh In On Luna Innovations

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hodges Capital Management Inc. bought a new stake in Luna Innovations in the second quarter valued at about $33,000. AQR Capital Management LLC acquired a new stake in Luna Innovations during the second quarter valued at approximately $37,000. Point72 DIFC Ltd acquired a new stake in Luna Innovations during the second quarter valued at approximately $39,000. Tower Research Capital LLC TRC grew its stake in shares of Luna Innovations by 54.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,220 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 2,192 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of Luna Innovations in the 2nd quarter worth approximately $45,000. 87.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on LUNA. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Luna Innovations in a research report on Monday, May 6th. StockNews.com downgraded Luna Innovations from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd.

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.