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

Luna Innovations (NASDAQ:LUNA)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued 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 points to a potential upside of 161.44% from the company’s current price.

Separately, StockNews.com cut 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

Luna Innovations Price Performance

Shares of NASDAQ:LUNA opened at $3.06 on Monday. Luna Innovations has a 12 month low of $1.91 and a 12 month high of $10.70. The stock has a market cap of $103.92 million, a price-to-earnings ratio of -38.25 and a beta of 1.40. The stock’s 50 day moving average price is $3.85 and its 200 day moving average price is $5.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.86 and a quick ratio of 1.62.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LUNA. Wasatch Advisors LP grew its position in Luna Innovations by 60.6% during the 1st quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after purchasing an additional 763,165 shares in the last quarter. AMH Equity Ltd grew its position 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. Punch & Associates Investment Management Inc. grew its position in Luna Innovations by 1.8% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,247,360 shares of the scientific and technical instruments company’s stock worth $7,310,000 after purchasing an additional 22,000 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Luna Innovations by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company’s stock worth $1,627,000 after purchasing an additional 10,300 shares in the last quarter. Finally, Skylands Capital LLC grew 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 acquiring an additional 29,650 shares in 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.