Luna Innovations (NASDAQ:LUNA) Stock Crosses Below 200-Day Moving Average of $5.19

Luna Innovations Incorporated (NASDAQ:LUNAGet Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.19 and traded as low as $3.31. Luna Innovations shares last traded at $3.38, with a volume of 232,913 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on LUNA shares. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Luna Innovations in a research report on Monday, May 6th. StockNews.com downgraded Luna Innovations from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. One equities research 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 company currently has a consensus rating of “Hold” and an average target price of $10.00.

Read Our Latest Research Report on Luna Innovations

Luna Innovations Stock Performance

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 company has a market capitalization of $114.78 million, a price-to-earnings ratio of -42.25 and a beta of 1.54. The stock has a 50 day simple moving average of $2.82 and a two-hundred day simple moving average of $5.19.

Institutional Trading of Luna Innovations

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Luna Innovations by 54.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,220 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 2,192 shares during the last quarter. Keeley Teton Advisors LLC bought a new position in Luna Innovations in the first quarter worth about $64,000. Alpine Global Management LLC bought a new position in Luna Innovations in the first quarter worth about $75,000. Private Portfolio Partners LLC bought a new position in Luna Innovations in the fourth quarter worth about $136,000. Finally, BNP Paribas Financial Markets lifted its holdings in Luna Innovations by 672.6% in the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after acquiring an additional 60,547 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors and hedge funds.

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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