Shares of Luna Innovations Incorporated (NASDAQ:LUNA) traded up 2.7% during mid-day trading on Monday . The stock traded as high as $5.99 and last traded at $6.09, 183,459 shares traded hands during mid-day trading. A decline of 3% from the average session volume of 189,728 shares. The stock had previously closed at $5.93.

Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of Luna Innovations from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Northland Securities upgraded shares of Luna Innovations from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a research note on Thursday, August 8th. TheStreet upgraded shares of Luna Innovations from a “c+” rating to a “b” rating in a research note on Wednesday, August 14th. Finally, Zacks Investment Research upgraded shares of Luna Innovations from a “hold” rating to a “strong-buy” rating and set a $6.75 price target on the stock in a research note on Thursday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.92.

The firm’s 50 day simple moving average is $5.06 and its 200-day simple moving average is $4.28. The stock has a market capitalization of $168.76 million, a price-to-earnings ratio of 150.00 and a beta of 0.74.

Luna Innovations (NASDAQ:LUNA) last released its quarterly earnings data on Wednesday, August 7th. The scientific and technical instruments company reported $0.02 earnings per share for the quarter. The company had revenue of $17.81 million for the quarter, compared to analyst estimates of $15.62 million. Luna Innovations had a net margin of 20.67% and a return on equity of 4.97%. As a group, analysts expect that Luna Innovations Incorporated will post 0.15 EPS for the current year.

In other news, major shareholder Clinic Carilion sold 30,208 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $5.00, for a total transaction of $151,040.00. Following the transaction, the insider now directly owns 2,126,999 shares in the company, valued at approximately $10,634,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 433,226 shares of company stock worth $2,294,883 over the last 90 days. 11.20% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. acquired a new position in shares of Luna Innovations during the 1st quarter worth about $417,000. Dimensional Fund Advisors LP increased its stake 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 worth $1,850,000 after purchasing an additional 49,010 shares during the last quarter. Deutsche Bank AG increased its stake in shares of 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 worth $33,000 after purchasing an additional 9,822 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of 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 worth $484,000 after purchasing an additional 12,397 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Luna Innovations during the 1st quarter worth about $47,000. Institutional investors own 23.31% of the company’s stock.

Luna Innovations Company Profile (NASDAQ:LUNA)

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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