Luna Innovations (NASDAQ:LUNA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA – Get Rating) in a report issued on Thursday. The firm issued a hold rating on the scientific and technical instruments company’s stock.

Several other brokerages have also commented on LUNA. TheStreet upgraded Luna Innovations from a d+ rating to a c rating in a research note on Friday, December 2nd. Northland Securities downgraded Luna Innovations from an outperform rating to a market perform rating and set a $8.00 target price for the company. in a research report on Wednesday.

Luna Innovations Trading Down 8.8 %

NASDAQ:LUNA traded down $0.64 on Thursday, hitting $6.62. 510,775 shares of the stock were exchanged, compared to its average volume of 312,175. The stock has a market cap of $218.20 million, a PE ratio of 22.83 and a beta of 1.31. The company has a current ratio of 2.38, a quick ratio of 1.42 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $9.27 and a 200-day moving average of $7.28. Luna Innovations has a fifty-two week low of $4.06 and a fifty-two week high of $10.97.

Institutional Investors Weigh In On Luna Innovations

Several institutional investors and hedge funds have recently modified their holdings of LUNA. City Holding Co. purchased a new stake in shares of Luna Innovations in the fourth quarter worth about $26,000. SeaCrest Wealth Management LLC purchased a new position in Luna Innovations in the second quarter valued at about $39,000. Tower Research Capital LLC TRC purchased a new position in Luna Innovations in the third quarter valued at about $47,000. Virtu Financial LLC purchased a new position in Luna Innovations in the third quarter valued at about $63,000. Finally, Man Group plc purchased a new position in Luna Innovations in the fourth quarter valued at about $118,000. Hedge funds and other institutional investors own 49.04% of the company’s stock.

Luna Innovations Company Profile

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Luna Innovations, Inc engages as an advanced optical technology company. The firm provides high performance fiber optic test, measurement and control products for the telecommunications and photonics industries, and distributed fiber optic sensing solutions that measure and monitor materials and structures for applications in aerospace, automotive, energy, oil and gas, security and infrastructure.