Luna Innovations (NASDAQ:LUNA) Stock Rating Reaffirmed by Needham & Company LLC

Luna Innovations (NASDAQ:LUNA)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report released on Monday, Benzinga reports. They currently have a $8.00 price objective on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target indicates a potential upside of 186.23% from the company’s previous close.

Separately, StockNews.com cut Luna Innovations from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Luna Innovations presently has an average rating of “Hold” and a consensus price target of $10.00.

Luna Innovations Price Performance

LUNA opened at $2.80 on Monday. The stock has a market capitalization of $94.92 million, a P/E ratio of -34.94 and a beta of 1.40. The company has a current ratio of 2.86, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. Luna Innovations has a 12-month low of $1.91 and a 12-month high of $10.70. The stock has a 50-day moving average price of $3.68 and a 200-day moving average price of $5.57.

Institutional Trading of Luna Innovations

Several large investors have recently bought and sold shares of the company. Pinnacle Associates Ltd. lifted its stake in shares of Luna Innovations by 4.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $1,034,000 after purchasing an additional 7,209 shares during the period. Punch & Associates Investment Management Inc. lifted its position in Luna Innovations by 1.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,247,360 shares of the scientific and technical instruments company’s stock valued at $7,310,000 after buying an additional 22,000 shares during the period. Skylands Capital LLC boosted its holdings in shares of Luna Innovations by 14.1% during the 4th quarter. Skylands Capital LLC now owns 239,653 shares of the scientific and technical instruments company’s stock valued at $1,594,000 after buying an additional 29,650 shares in the last quarter. AMH Equity Ltd increased its stake in shares of Luna Innovations by 7.7% in the 4th quarter. AMH Equity Ltd now owns 1,619,778 shares of the scientific and technical instruments company’s stock worth $10,772,000 after acquiring an additional 116,425 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Luna Innovations by 72.5% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 42,377 shares of the scientific and technical instruments company’s stock valued at $282,000 after acquiring an additional 17,808 shares during the period. 87.46% of the stock is owned by 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.