Needham & Company LLC started coverage on shares of Luna Innovations (NASDAQ:LUNA – Get Rating) in a report issued on Monday, The Fly reports. The firm issued a buy rating and a $10.00 price target on the scientific and technical instruments company’s stock.
A number of other equities analysts have also weighed in on LUNA. Northland Securities lowered shares of Luna Innovations from an outperform rating to a market perform rating and set a $8.00 target price for the company. in a research report on Wednesday, March 15th. StockNews.com initiated coverage on Luna Innovations in a research note on Thursday, May 18th. They issued a hold rating on the stock. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Luna Innovations currently has an average rating of Moderate Buy and a consensus price target of $9.17.
Luna Innovations Price Performance
LUNA stock opened at $8.51 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.54 and a current ratio of 2.76. The firm has a market capitalization of $284.23 million, a price-to-earnings ratio of -121.55 and a beta of 1.30. The firm has a 50 day moving average price of $6.83 and a 200-day moving average price of $7.92. Luna Innovations has a 52-week low of $4.06 and a 52-week high of $10.97.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. City Holding Co. acquired a new stake in shares of Luna Innovations in the fourth quarter worth approximately $26,000. SkyView Investment Advisors LLC acquired a new stake in shares of Luna Innovations during the first quarter worth about $43,000. Tower Research Capital LLC TRC acquired a new position in shares of Luna Innovations in the third quarter worth $47,000. Virtu Financial LLC purchased a new stake in Luna Innovations during the 3rd quarter worth about $63,000. Finally, D.A. Davidson & CO. acquired a new stake in Luna Innovations in the first quarter valued at approximately $101,000. Hedge funds and other institutional investors own 49.04% of the company’s stock.
About Luna Innovations
Luna Innovations, Inc engages as an advanced optical technology company. The firm provides high performance fiber optic test, measurement and control products for the telecommunications and photonics industries, and distributed fiber optic sensing solutions that measure and monitor materials and structures for applications in aerospace, automotive, energy, oil and gas, security and infrastructure.
- Get a free copy of the StockNews.com research report on Luna Innovations (LUNA)
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