Luna Innovations Incorporated (NASDAQ:LUNA – Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.41 and traded as low as $2.15. Luna Innovations shares last traded at $2.28, with a volume of 192,778 shares traded.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Luna Innovations in a research note on Thursday. They set a “sell” rating for the company.
Read Our Latest Research Report on LUNA
Luna Innovations Trading Up 4.3 %
Institutional Investors Weigh In On Luna Innovations
Institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP grew its position in Luna Innovations by 75.0% during the 4th quarter. Wasatch Advisors LP now owns 1,260,077 shares of the scientific and technical instruments company’s stock worth $8,380,000 after purchasing an additional 539,933 shares in the last quarter. Vanguard Group Inc. raised its position in Luna Innovations by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock valued at $5,919,000 after buying an additional 16,773 shares during the period. BNP Paribas Financial Markets lifted its stake in Luna Innovations by 672.6% in the 1st quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after acquiring an additional 60,547 shares in the last quarter. Avenir Corp lifted its stake in Luna Innovations by 35.3% in the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock worth $1,471,000 after acquiring an additional 57,700 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Luna Innovations by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company’s stock valued at $1,627,000 after acquiring an additional 10,300 shares in the last quarter. 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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