Luna Innovations (NASDAQ:LUNA) Stock Price Crosses Below Two Hundred Day Moving Average of $5.28

Shares of Luna Innovations Incorporated (NASDAQ:LUNAGet Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.28 and traded as low as $2.99. Luna Innovations shares last traded at $3.05, with a volume of 213,400 shares trading hands.

Wall Street Analysts Forecast Growth

LUNA has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Luna Innovations in a research report on Monday, May 6th. StockNews.com downgraded shares of Luna Innovations from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.00.

Check Out Our Latest Stock Report on LUNA

Luna Innovations Stock Down 3.9 %

The company’s 50 day moving average price is $2.85 and its two-hundred day moving average price is $5.26. The company has a current ratio of 2.86, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. The stock has a market cap of $108.67 million, a P/E ratio of -39.25 and a beta of 1.40.

Hedge Funds Weigh In On Luna Innovations

Several institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP raised its stake in 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 during the period. Vanguard Group Inc. raised its stake in Luna Innovations by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock worth $5,919,000 after acquiring an additional 16,773 shares during the period. AMH Equity Ltd raised its stake in Luna Innovations by 7.7% during the 4th quarter. AMH Equity Ltd now owns 1,619,778 shares of the scientific and technical instruments company’s stock worth $10,772,000 after acquiring an additional 116,425 shares during the period. Janney Montgomery Scott LLC raised its stake in Luna Innovations by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company’s stock worth $1,627,000 after acquiring an additional 10,300 shares during the period. Finally, Skylands Capital LLC raised its stake in 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 acquiring an additional 29,650 shares during the period. Institutional investors own 87.46% of the company’s stock.

Luna Innovations Company Profile

(Get Free Report)

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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