Luna Innovations Incorporated (NASDAQ:LUNA) Shares Purchased by Skylands Capital LLC

Skylands Capital LLC boosted its holdings in Luna Innovations Incorporated (NASDAQ:LUNA) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 239,653 shares of the scientific and technical instruments company’s stock after acquiring an additional 29,650 shares during the period. Skylands Capital LLC owned 0.71% of Luna Innovations worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AMH Equity Ltd boosted its stake in Luna Innovations by 7.7% in 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 buying an additional 116,425 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in Luna Innovations by 1.8% in the third quarter. Punch & Associates Investment Management Inc. now owns 1,247,360 shares of the scientific and technical instruments company’s stock valued at $7,310,000 after purchasing an additional 22,000 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Luna Innovations by 6.9% in the third quarter. Janney Montgomery Scott LLC now owns 234,381 shares of the scientific and technical instruments company’s stock worth $1,373,000 after buying an additional 15,130 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Luna Innovations by 4.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $1,034,000 after buying an additional 7,209 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Luna Innovations by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 130,296 shares of the scientific and technical instruments company’s stock worth $764,000 after acquiring an additional 2,788 shares in the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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 assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.00.

Luna Innovations Stock Performance

Shares of NASDAQ LUNA traded up $0.10 during midday trading on Monday, hitting $2.09. 402,594 shares of the company’s stock were exchanged, compared to its average volume of 393,987. Luna Innovations Incorporated has a twelve month low of $1.91 and a twelve month high of $10.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.62 and a current ratio of 2.86. The stock’s 50 day moving average price is $4.34 and its 200-day moving average price is $5.76.

Luna Innovations 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.