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

StockNews.com downgraded shares of Luna Innovations (NASDAQ:LUNA) from a hold rating to a sell rating in a research report report published on Friday.

Separately, Needham & Company LLC reaffirmed a buy rating and set a $8.00 target price on shares of Luna Innovations in a report on Monday, May 6th.

Luna Innovations Stock Up 2.2 %

Shares of NASDAQ LUNA opened at $2.80 on Friday. Luna Innovations has a 12 month low of $1.91 and a 12 month high of $9.10. The company has a market cap of $95.09 million, a price-to-earnings ratio of -34.25 and a beta of 1.55. The business has a fifty day simple moving average of $3.17 and a 200-day simple moving average of $4.16.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LUNA. Hodges Capital Management Inc. acquired a new position in Luna Innovations during the second quarter valued at $33,000. Tower Research Capital LLC TRC increased its position in 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 worth $41,000 after purchasing an additional 2,192 shares during the last quarter. Summit Securities Group LLC acquired a new position in Luna Innovations in the 2nd quarter worth about $45,000. Keeley Teton Advisors LLC acquired a new position in Luna Innovations in the 1st quarter worth about $64,000. Finally, Alpine Global Management LLC acquired a new position in Luna Innovations in the 1st quarter worth about $75,000. 87.46% of the stock is owned by institutional investors and hedge funds.

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.