Keeley Teton Advisors LLC Buys New Shares in Luna Innovations Incorporated (NASDAQ:LUNA)

Keeley Teton Advisors LLC bought a new stake in shares of Luna Innovations Incorporated (NASDAQ:LUNA) during the 1st quarter, HoldingsChannel.com reports. The fund bought 20,000 shares of the scientific and technical instruments company’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wasatch Advisors LP boosted its position in Luna Innovations by 75.0% during the 4th quarter. Wasatch Advisors LP now owns 1,260,077 shares of the scientific and technical instruments company’s stock valued at $8,380,000 after buying an additional 539,933 shares during the period. Pinnacle Associates Ltd. boosted its position in Luna Innovations by 4.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $1,034,000 after buying an additional 7,209 shares during the period. Avenir Corp boosted its position in Luna Innovations by 35.3% during the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock valued at $1,471,000 after buying an additional 57,700 shares during the period. Janney Montgomery Scott LLC boosted 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 valued at $1,627,000 after buying an additional 10,300 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Luna Innovations by 672.6% during the 1st quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock valued at $223,000 after buying an additional 60,547 shares during the period. Institutional investors own 87.46% of the company’s stock.

Luna Innovations Stock Up 2.1 %

Shares of NASDAQ:LUNA traded up $0.06 on Friday, hitting $2.90. The company had a trading volume of 135,442 shares, compared to its average volume of 429,905. The firm’s 50-day simple moving average is $3.17 and its two-hundred day simple moving average is $4.32. Luna Innovations Incorporated has a 1 year low of $1.91 and a 1 year high of $9.25. The firm has a market capitalization of $98.48 million, a price-to-earnings ratio of -36.25 and a beta of 1.55.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LUNA. StockNews.com raised shares of Luna Innovations from a “sell” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Luna Innovations in a research report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.