Needham & Company LLC reissued their buy rating on shares of Luna Innovations (NASDAQ:LUNA – Free Report) in a report released on Monday morning, Benzinga reports. The firm currently has a $8.00 price target on the scientific and technical instruments company’s stock.
Separately, StockNews.com downgraded shares of Luna Innovations from a hold rating to a sell rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $10.00.
View Our Latest Analysis on LUNA
Luna Innovations Price Performance
Hedge Funds Weigh In On Luna Innovations
Institutional investors have recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in Luna Innovations by 60.6% in the first quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock valued at $6,484,000 after buying an additional 763,165 shares in the last quarter. Skylands Capital LLC lifted its position in Luna Innovations by 157.2% in the 3rd quarter. Skylands Capital LLC now owns 210,003 shares of the scientific and technical instruments company’s stock valued at $1,231,000 after acquiring an additional 128,350 shares in the last quarter. AMH Equity Ltd increased its holdings in Luna Innovations by 7.7% during 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 purchasing an additional 116,425 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Luna Innovations by 672.6% during the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after buying an additional 60,547 shares during the period. Finally, Avenir Corp boosted its position in Luna Innovations by 35.3% during 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 during the last quarter. Institutional investors own 87.46% of the company’s stock.
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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