Luna Innovations Incorporated (NASDAQ:LUNA – Get Free Report)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.07 and traded as low as $2.70. Luna Innovations shares last traded at $2.81, with a volume of 399,497 shares traded.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Luna Innovations from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Luna Innovations currently has a consensus rating of “Hold” and a consensus price target of $10.00.
Get Our Latest Stock Analysis on LUNA
Luna Innovations Stock Performance
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in shares of Luna Innovations by 54.4% in the fourth 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. SkyView Investment Advisors LLC bought a new position in shares of Luna Innovations during the first quarter worth approximately $43,000. Lazard Asset Management LLC bought a new position in shares of Luna Innovations during the third quarter worth approximately $43,000. California State Teachers Retirement System bought a new position in shares of Luna Innovations during the second quarter worth approximately $97,000. Finally, AE Wealth Management LLC bought a new position in Luna Innovations during the 3rd quarter worth $102,000. 87.46% of the stock is owned by institutional investors and hedge funds.
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.
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