Luna Innovations (NASDAQ:LUNA) Share Price Passes Below Two Hundred Day Moving Average of $5.93

Luna Innovations Incorporated (NASDAQ:LUNA)’s share price crossed 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 changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Luna Innovations from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Luna Innovations presently has a consensus rating of “Hold” and an average price target of $10.00.

Luna Innovations Stock Up 1.4 %

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 $95.09 million, a P/E ratio of -35.00 and a beta of 1.31. The firm has a 50-day simple moving average of $4.96 and a two-hundred day simple moving average of $5.93.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LUNA. BlackRock Inc. increased its position in Luna Innovations by 378.7% during the 2nd quarter. BlackRock Inc. now owns 2,065,784 shares of the scientific and technical instruments company’s stock worth $18,840,000 after buying an additional 1,634,279 shares during the period. Wasatch Advisors LP increased its position in shares of Luna Innovations by 60.6% in the first quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after purchasing an additional 763,165 shares during the period. State Street Corp increased its position in shares of Luna Innovations by 475.6% in the second quarter. State Street Corp now owns 648,009 shares of the scientific and technical instruments company’s stock worth $5,910,000 after purchasing an additional 535,435 shares during the period. Geode Capital Management LLC increased its position in shares of Luna Innovations by 114.3% in the second quarter. Geode Capital Management LLC now owns 662,945 shares of the scientific and technical instruments company’s stock worth $6,046,000 after purchasing an additional 353,576 shares during the period. Finally, Millennium Management LLC increased its position in shares of Luna Innovations by 253.8% in the second quarter. Millennium Management LLC now owns 475,221 shares of the scientific and technical instruments company’s stock worth $2,771,000 after purchasing an additional 340,907 shares during the period. Institutional investors own 87.46% of the company’s stock.

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.