Shares of Luna Innovations Incorporated (NASDAQ:LUNA) shot up 4.2% during trading on Friday . The stock traded as high as $4.00 and last traded at $3.61. 238,517 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 142,633 shares. The stock had previously closed at $3.77.
Several brokerages have commented on LUNA. Northland Securities reissued a “buy” rating and issued a $3.25 price objective on shares of Luna Innovations in a report on Wednesday, March 21st. Zacks Investment Research lowered Luna Innovations from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd.
The company has a debt-to-equity ratio of 0.01, a current ratio of 3.98 and a quick ratio of 3.51.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Luna Innovations by 0.5% in the second quarter. Vanguard Group Inc. now owns 475,489 shares of the scientific and technical instruments company’s stock valued at $718,000 after acquiring an additional 2,400 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Luna Innovations in the fourth quarter valued at approximately $110,000. Alambic Investment Management L.P. purchased a new position in shares of Luna Innovations in the fourth quarter valued at approximately $178,000. Deutsche Bank AG lifted its position in shares of Luna Innovations by 331.2% in the fourth quarter. Deutsche Bank AG now owns 100,910 shares of the scientific and technical instruments company’s stock valued at $244,000 after acquiring an additional 77,510 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Luna Innovations in the fourth quarter valued at approximately $327,000. Institutional investors and hedge funds own 18.14% of the company’s stock.
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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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