Luna Innovations (NASDAQ:LUNA) Rating Increased to Hold at StockNews.com

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

Luna Innovations Stock Performance

Shares of LUNA stock opened at $3.21 on Tuesday. The company’s 50-day moving average is $6.29 and its 200 day moving average is $6.26. 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 company has a market capitalization of $108.84 million, a price-to-earnings ratio of -40.06 and a beta of 1.39. Luna Innovations has a one year low of $3.00 and a one year high of $10.70.

Institutional Trading of Luna Innovations

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in 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 acquiring an additional 2,192 shares during the period. SkyView Investment Advisors LLC purchased a new stake in Luna Innovations during the first quarter worth approximately $43,000. Lazard Asset Management LLC purchased a new stake in Luna Innovations in the third quarter valued at approximately $43,000. California State Teachers Retirement System purchased a new stake in shares of Luna Innovations during the second quarter worth approximately $97,000. Finally, AE Wealth Management LLC acquired a new position in Luna Innovations during the third quarter worth $102,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

Luna Innovations Company 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.