Luna Innovations (NASDAQ:LUNA) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Luna Innovations (NASDAQ:LUNA) from a sell rating to a hold rating in a research report released on Thursday morning.

Separately, Needham & Company LLC restated a buy rating and issued a $8.00 target price on shares of Luna Innovations in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Luna Innovations currently has an average rating of Moderate Buy and a consensus target price of $10.00.

Luna Innovations Stock Up 6.8 %

LUNA stock opened at $2.84 on Thursday. Luna Innovations has a fifty-two week low of $1.91 and a fifty-two week high of $9.25. The stock’s 50 day simple moving average is $3.18 and its 200 day simple moving average is $4.36.

Institutional Investors Weigh In On Luna Innovations

A number of institutional investors have recently added to or reduced their stakes in LUNA. Wasatch Advisors LP lifted its position 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 buying an additional 763,165 shares in the last quarter. AMH Equity Ltd grew its stake in Luna Innovations by 7.7% in the 4th 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 period. BNP Paribas Financial Markets grew its stake in Luna Innovations by 672.6% in the 1st quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock valued at $223,000 after purchasing an additional 60,547 shares during the period. Avenir Corp increased its position in shares of Luna Innovations by 35.3% during the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock valued at $1,471,000 after purchasing an additional 57,700 shares during the last quarter. Finally, Skylands Capital LLC raised its stake in shares of Luna Innovations by 14.1% during the 4th quarter. Skylands Capital LLC now owns 239,653 shares of the scientific and technical instruments company’s stock worth $1,594,000 after purchasing an additional 29,650 shares during the period. 87.46% of the stock is owned by institutional investors.

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.