Insider Selling: Luna Innovations Incorporated (NASDAQ:LUNA) Major Shareholder Sells $242,996.70 in Stock

Luna Innovations Incorporated (NASDAQ:LUNA) major shareholder Clinic Carilion sold 45,505 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $5.34, for a total transaction of $242,996.70. Following the completion of the sale, the insider now owns 1,922,130 shares of the company’s stock, valued at $10,264,174.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Clinic Carilion also recently made the following trade(s):

  • On Monday, July 29th, Clinic Carilion sold 17,178 shares of Luna Innovations stock. The stock was sold at an average price of $5.02, for a total transaction of $86,233.56.
  • On Thursday, July 25th, Clinic Carilion sold 14,579 shares of Luna Innovations stock. The stock was sold at an average price of $5.00, for a total transaction of $72,895.00.
  • On Monday, July 22nd, Clinic Carilion sold 87,960 shares of Luna Innovations stock. The stock was sold at an average price of $5.02, for a total transaction of $441,559.20.
  • On Friday, July 19th, Clinic Carilion sold 30,208 shares of Luna Innovations stock. The stock was sold at an average price of $5.00, for a total transaction of $151,040.00.
  • On Wednesday, July 17th, Clinic Carilion sold 20,135 shares of Luna Innovations stock. The stock was sold at an average price of $5.02, for a total transaction of $101,077.70.

Shares of NASDAQ LUNA opened at $4.81 on Monday. The company has a current ratio of 3.29, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. Luna Innovations Incorporated has a 52 week low of $2.68 and a 52 week high of $5.52. The business has a fifty day moving average price of $4.68. The stock has a market capitalization of $144.28 million, a P/E ratio of 120.25 and a beta of 0.74.

Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Wednesday, May 8th. The scientific and technical instruments company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. Luna Innovations had a net margin of 22.56% and a return on equity of 5.52%. The company had revenue of $14.83 million for the quarter, compared to the consensus estimate of $12.80 million. As a group, equities analysts predict that Luna Innovations Incorporated will post 0.08 EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Luna Innovations from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Wednesday, July 10th. Northland Securities restated a “hold” rating and issued a $4.00 price objective on shares of Luna Innovations in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Luna Innovations has a consensus rating of “Buy” and an average target price of $4.67.

Several hedge funds and other institutional investors have recently modified their holdings of LUNA. Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 49,010 shares during the period. Acadian Asset Management LLC increased its position in Luna Innovations by 11.9% during the 1st quarter. Acadian Asset Management LLC now owns 116,199 shares of the scientific and technical instruments company’s stock valued at $484,000 after purchasing an additional 12,397 shares during the period. Punch & Associates Investment Management Inc. purchased a new position in Luna Innovations during the 1st quarter valued at $417,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Luna Innovations during the 1st quarter valued at $47,000. Finally, Deutsche Bank AG increased its position in Luna Innovations by 12,592.3% during the 4th quarter. Deutsche Bank AG now owns 9,900 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 9,822 shares during the period. 21.91% of the stock is currently owned by institutional investors.

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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