Luna Innovations (NASDAQ:LUNA) Stock Rating Upgraded by StockNews.com

Luna Innovations (NASDAQ:LUNA) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Luna Innovations Stock Down 11.5 %

LUNA traded down $0.41 on Tuesday, hitting $3.14. 1,161,879 shares of the company were exchanged, compared to its average volume of 306,267. Luna Innovations has a twelve month low of $3.00 and a twelve month high of $10.70. The company has a market cap of $106.63 million, a price-to-earnings ratio of -39.25 and a beta of 1.39. 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 firm has a 50-day moving average price of $6.50 and a two-hundred day moving average price of $6.32.

Institutional Trading of Luna Innovations

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Luna Innovations by 54.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,220 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 2,192 shares during the last quarter. SkyView Investment Advisors LLC purchased a new stake in shares of Luna Innovations in the 1st quarter valued at about $43,000. Lazard Asset Management LLC purchased a new stake in shares of Luna Innovations in the 3rd quarter valued at about $43,000. California State Teachers Retirement System purchased a new stake in shares of Luna Innovations in the 2nd quarter valued at about $97,000. Finally, AE Wealth Management LLC purchased a new stake in shares of Luna Innovations in the 3rd quarter valued at about $102,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

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.