Needham & Company LLC reiterated their buy rating on shares of Luna Innovations (NASDAQ:LUNA - Free Report) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $8.00 price target on the scientific and technical instruments company's stock.
Separately, StockNews.com downgraded Luna Innovations from a hold rating to a sell rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $10.00.
Check Out Our Latest Stock Analysis on Luna Innovations
Luna Innovations Stock Performance
Shares of LUNA stock traded down $0.21 during midday trading on Monday, hitting $2.86. 1,280,607 shares of the company were exchanged, compared to its average volume of 454,040. Luna Innovations has a 52 week low of $1.91 and a 52 week high of $10.70. The firm has a market capitalization of $96.96 million, a P/E ratio of -35.69 and a beta of 1.40. The firm's 50 day moving average price is $3.76 and its two-hundred day moving average price is $5.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.62 and a current ratio of 2.86.
Institutional Trading of Luna Innovations
Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of Luna Innovations by 54.4% in the fourth 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 buying an additional 2,192 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Luna Innovations by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 130,296 shares of the scientific and technical instruments company's stock worth $764,000 after purchasing an additional 2,788 shares during the period. Pinnacle Associates Ltd. raised its stake in Luna Innovations by 4.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company's stock valued at $1,034,000 after purchasing an additional 7,209 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Luna Innovations by 4.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company's stock worth $1,627,000 after purchasing an additional 10,300 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Luna Innovations by 72.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 42,377 shares of the scientific and technical instruments company's stock worth $282,000 after buying an additional 17,808 shares in the last quarter. Institutional investors own 87.46% of the company's stock.
Luna Innovations Company Profile
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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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