Luna Innovations (NASDAQ:LUNA) Stock Rating Upgraded by StockNews.com

Luna Innovations (NASDAQ:LUNA) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Luna Innovations Stock Down 11.5 %

Shares of NASDAQ:LUNA traded down $0.41 during midday trading on Tuesday, reaching $3.14. 1,161,879 shares of the company were exchanged, compared to its average volume of 306,267. Luna Innovations has a fifty-two week low of $3.00 and a fifty-two week high of $10.70. The company has a quick ratio of 1.62, a current ratio of 2.86 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $6.50 and a two-hundred day simple moving average of $6.32. The firm has a market cap of $106.63 million, a PE ratio of -39.25 and a beta of 1.39.

Institutional Investors Weigh In On Luna Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC acquired a new stake in Luna Innovations in the 1st quarter valued at $43,000. Tower Research Capital LLC TRC increased 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 buying an additional 2,192 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Luna Innovations in the 3rd quarter valued at $43,000. California State Teachers Retirement System acquired a new stake in Luna Innovations in the 2nd quarter valued at $97,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Luna Innovations in the 2nd quarter valued at $122,000. 87.46% of the stock is currently 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.