Luna Innovations Incorporated (NASDAQ:LUNA – Get Free Report)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.93 and traded as low as $2.73. Luna Innovations shares last traded at $2.80, with a volume of 622,335 shares.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of Luna Innovations from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.
Check Out Our Latest Report on LUNA
Luna Innovations Price Performance
Hedge Funds Weigh In On Luna Innovations
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Luna Innovations by 378.7% in the second quarter. BlackRock Inc. now owns 2,065,784 shares of the scientific and technical instruments company’s stock valued at $18,840,000 after purchasing an additional 1,634,279 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Luna Innovations by 60.6% during the 1st quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after acquiring an additional 763,165 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Luna Innovations by 11.4% during the 4th 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. AMH Equity Ltd raised its holdings in shares of Luna Innovations by 7.7% in the fourth quarter. AMH Equity Ltd now owns 1,619,778 shares of the scientific and technical instruments company’s stock valued at $10,772,000 after purchasing an additional 116,425 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in Luna Innovations by 1.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,247,360 shares of the scientific and technical instruments company’s stock worth $7,310,000 after purchasing an additional 22,000 shares during the last quarter. 87.46% of the stock is owned by institutional investors and hedge funds.
About Luna Innovations
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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