Acadian Asset Management LLC boosted its holdings in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 106.1% during the second quarter, HoldingsChannel reports. The firm owned 128,838 shares of the scientific and technical instruments company’s stock after purchasing an additional 66,327 shares during the period. Acadian Asset Management LLC’s holdings in Luna Innovations were worth $384,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Luna Innovations by 96.5% during the first quarter. JPMorgan Chase & Co. now owns 63,491 shares of the scientific and technical instruments company’s stock worth $206,000 after purchasing an additional 31,184 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Luna Innovations during the first quarter worth approximately $223,000. Deutsche Bank AG lifted its position in shares of Luna Innovations by 331.2% in the fourth quarter. Deutsche Bank AG now owns 100,910 shares of the scientific and technical instruments company’s stock valued at $244,000 after acquiring an additional 77,510 shares in the last quarter. Alambic Investment Management L.P. lifted its position in shares of Luna Innovations by 20.2% in the first quarter. Alambic Investment Management L.P. now owns 88,011 shares of the scientific and technical instruments company’s stock valued at $285,000 after acquiring an additional 14,766 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Luna Innovations in the fourth quarter valued at approximately $327,000. Institutional investors own 23.31% of the company’s stock.

Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Luna Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Northland Securities downgraded Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 target price on the stock. in a research report on Friday, August 3rd.

In other news, major shareholder Clinic Carilion sold 8,955 shares of the firm’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $3.40, for a total value of $30,447.00. Following the transaction, the insider now owns 2,044,730 shares in the company, valued at $6,952,082. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 165,197 shares of company stock worth $561,798. Company insiders own 10.60% of the company’s stock.

NASDAQ LUNA opened at $3.76 on Tuesday. The company has a market capitalization of $107.93 million, a PE ratio of 49.38 and a beta of 0.91. Luna Innovations Incorporated has a 1-year low of $1.35 and a 1-year high of $4.32.

Luna Innovations (NASDAQ:LUNA) last released its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $13.77 million for the quarter, compared to the consensus estimate of $12.90 million. Luna Innovations had a return on equity of 4.98% and a net margin of 34.13%. sell-side analysts expect that Luna Innovations Incorporated will post 0.07 EPS for the current year.

About Luna Innovations

Luna Innovations Incorporated develops, manufactures, and markets fiber optic sensing, and test and measurement products worldwide. It operates in two segments, Products and Licensing, and Technology Development. The Products and Licensing segment offers fiber optic sensing products, as well as test and measurement products to monitor the integrity of fiber optic network components and sub-assemblies, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and distributed sensing systems comprising optical distributed sensor interrogator sensing solution with multiple sensors whose inputs are integrated through a fiber optic network and software.

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Institutional Ownership by Quarter for Luna Innovations (NASDAQ:LUNA)

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