Cary Street Partners Investment Advisory LLC Has $282,000 Holdings in Luna Innovations Incorporated (NASDAQ:LUNA)

Cary Street Partners Investment Advisory LLC increased its stake in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 72.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,377 shares of the scientific and technical instruments company’s stock after acquiring an additional 17,808 shares during the period. Cary Street Partners Investment Advisory LLC owned 0.12% of Luna Innovations worth $282,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Luna Innovations by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 130,296 shares of the scientific and technical instruments company’s stock valued at $764,000 after acquiring an additional 2,788 shares during the period. Pinnacle Associates Ltd. grew its holdings in Luna Innovations by 4.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $1,034,000 after buying an additional 7,209 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Luna Innovations by 6.9% in the third quarter. Janney Montgomery Scott LLC now owns 234,381 shares of the scientific and technical instruments company’s stock valued at $1,373,000 after acquiring an additional 15,130 shares during the period. AE Wealth Management LLC acquired a new stake in shares of Luna Innovations in the third quarter worth $102,000. Finally, Punch & Associates Investment Management Inc. grew its stake in shares of Luna Innovations by 1.8% in 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 acquiring an additional 22,000 shares during the last quarter. 87.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Luna Innovations Stock Up 8.5 %

LUNA opened at $2.24 on Thursday. The company has a market capitalization of $75.90 million, a P/E ratio of -27.94 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.86 and a quick ratio of 1.62. The firm’s fifty day moving average price is $4.03 and its two-hundred day moving average price is $5.67. Luna Innovations Incorporated has a fifty-two week low of $1.91 and a fifty-two week high of $10.70.

Luna Innovations 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.