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

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

Luna Innovations Price Performance

Shares of LUNA stock opened at $3.21 on Tuesday. 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 company has a market capitalization of $108.84 million, a P/E ratio of -40.06 and a beta of 1.39. Luna Innovations has a 12 month low of $3.00 and a 12 month high of $10.70. The stock has a 50 day moving average of $6.29 and a two-hundred day moving average of $6.26.

Institutional Investors Weigh In On Luna Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Luna Innovations by 5.9% during the third quarter. Rhumbline Advisers now owns 32,851 shares of the scientific and technical instruments company’s stock worth $192,000 after purchasing an additional 1,829 shares during the period. Bank of New York Mellon Corp increased its position in Luna Innovations by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 105,453 shares of the scientific and technical instruments company’s stock worth $813,000 after buying an additional 1,962 shares during the last quarter. Tower Research Capital LLC TRC increased its position in 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 buying an additional 2,192 shares during the last quarter. State of Wyoming grew its position in shares of Luna Innovations by 12.6% in the second quarter. State of Wyoming now owns 21,893 shares of the scientific and technical instruments company’s stock valued at $200,000 after purchasing an additional 2,449 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Luna Innovations by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 297,433 shares of the scientific and technical instruments company’s stock valued at $2,614,000 after buying an additional 2,896 shares during the period. 87.46% of the stock is owned by institutional investors and hedge funds.

About Luna Innovations

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.