Luna Innovations (LUNA) Trading Up 6.2%

Luna Innovations Incorporated (NASDAQ:LUNA) shares were up 6.2% on Friday . The stock traded as high as $2.93 and last traded at $3.08. Approximately 447,436 shares were traded during trading, an increase of 317% from the average daily volume of 107,171 shares. The stock had previously closed at $2.90.

Several research analysts recently weighed in on LUNA shares. Northland Securities reissued a “buy” rating and set a $3.25 price objective on shares of Luna Innovations in a research note on Wednesday. Zacks Investment Research lowered shares of Luna Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd.

The firm has a market cap of $82.23, a P/E ratio of 7.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.98 and a quick ratio of 3.32.

A number of institutional investors have recently added to or reduced their stakes in LUNA. Luzich Partners LLC bought a new position in Luna Innovations during the 3rd quarter worth approximately $766,000. EAM Investors LLC bought a new position in Luna Innovations during the 4th quarter worth approximately $666,000. Renaissance Technologies LLC boosted its stake in Luna Innovations by 45.7% during the 4th quarter. Renaissance Technologies LLC now owns 841,005 shares of the scientific and technical instruments company’s stock worth $2,044,000 after acquiring an additional 263,700 shares during the last quarter. Millennium Management LLC bought a new position in Luna Innovations during the 4th quarter worth approximately $327,000. Finally, Deutsche Bank AG boosted its stake in Luna Innovations by 331.2% during the 4th quarter. Deutsche Bank AG now owns 100,910 shares of the scientific and technical instruments company’s stock worth $244,000 after acquiring an additional 77,510 shares during the last quarter. 18.14% of the stock is currently owned by institutional investors and hedge funds.

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About Luna Innovations

Luna Innovations Incorporated develops, manufactures and markets fiber optic sensing and test, and measurement products. The Company is focused on bringing technology solutions to measure and monitor processes in the aerospace, automotive, energy, composite, telecommunications and defense industries.

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