TheStreet upgraded shares of Luna Innovations (NASDAQ:LUNA) from a c+ rating to a b rating in a research note published on Wednesday morning, TheStreetRatingsTable reports.

Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Luna Innovations from a hold rating to a strong-buy rating and set a $6.75 price objective for the company in a research note on Thursday. ValuEngine downgraded Luna Innovations from a buy rating to a hold rating in a research note on Thursday, August 8th. Finally, Northland Securities upgraded Luna Innovations from a market perform rating to an outperform rating and set a $6.00 price objective for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $5.92.

NASDAQ LUNA opened at $5.93 on Wednesday. The company has a market capitalization of $156.10 million, a PE ratio of 148.25 and a beta of 0.74. Luna Innovations has a 52-week low of $2.68 and a 52-week high of $5.99. The company has a 50-day simple moving average of $4.97 and a 200 day simple moving average of $4.26.

Luna Innovations (NASDAQ:LUNA) last announced its quarterly earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $0.02 earnings per share (EPS) for the quarter. Luna Innovations had a net margin of 20.67% and a return on equity of 4.97%. The company had revenue of $17.81 million for the quarter, compared to analysts’ expectations of $15.62 million. On average, research analysts predict that Luna Innovations will post 0.15 earnings per share for the current fiscal year.

In other Luna Innovations news, major shareholder Clinic Carilion sold 79,305 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $5.58, for a total value of $442,521.90. Following the completion of the transaction, the insider now directly owns 1,720,299 shares in the company, valued at approximately $9,599,268.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 433,226 shares of company stock valued at $2,294,883 over the last 90 days. 11.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Luna Innovations by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,290,450 shares of the scientific and technical instruments company’s stock valued at $5,807,000 after acquiring an additional 29,943 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Luna Innovations by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 552,213 shares of the scientific and technical instruments company’s stock valued at $1,850,000 after acquiring an additional 49,010 shares during the last quarter. BlackRock Inc. boosted its position in shares of Luna Innovations by 67.4% during the 2nd quarter. BlackRock Inc. now owns 500,914 shares of the scientific and technical instruments company’s stock valued at $2,254,000 after acquiring an additional 201,612 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in Luna Innovations by 16.6% during the 2nd quarter. Essex Investment Management Co. LLC now owns 345,912 shares of the scientific and technical instruments company’s stock valued at $1,557,000 after buying an additional 49,322 shares during the period. Finally, Morgan Stanley raised its holdings in Luna Innovations by 9.7% during the 2nd quarter. Morgan Stanley now owns 217,025 shares of the scientific and technical instruments company’s stock valued at $976,000 after buying an additional 19,190 shares during the period. Institutional investors and hedge funds own 21.93% of the company’s stock.

Luna Innovations Company Profile

Luna Innovations Incorporated develops, manufactures, and markets fiber optic sensing, and test and measurement products worldwide. It operates in two segments, Products and Licensing, and Technology Development. The Products and Licensing segment offers fiber optic sensing products, as well as test and measurement products to monitor the integrity of fiber optic network components and sub-assemblies, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and distributed sensing systems comprising optical distributed sensor interrogator sensing solution with multiple sensors whose inputs are integrated through a fiber optic network and software.

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