StockNews.com downgraded shares of Luna Innovations (NASDAQ:LUNA – Free Report) from a hold rating to a sell rating in a report issued on Friday.
Separately, Needham & Company LLC reaffirmed a buy rating and issued a $8.00 price objective on shares of Luna Innovations in a research note on Monday, May 6th.
Check Out Our Latest Research Report on Luna Innovations
Luna Innovations Price Performance
Hedge Funds Weigh In On Luna Innovations
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hodges Capital Management Inc. acquired a new position in Luna Innovations during the 2nd quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its position in Luna Innovations by 54.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,220 shares of the scientific and technical instruments company’s stock worth $41,000 after acquiring an additional 2,192 shares in the last quarter. Summit Securities Group LLC acquired a new position in Luna Innovations during the 2nd quarter worth approximately $45,000. Keeley Teton Advisors LLC acquired a new position in Luna Innovations during the 1st quarter worth approximately $64,000. Finally, Alpine Global Management LLC acquired a new position in Luna Innovations during the 1st quarter worth approximately $75,000. 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.
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