Insider Selling: Luna Innovations Incorporated (LUNA) Major Shareholder Sells 44,012 Shares of Stock

Luna Innovations Incorporated (NASDAQ:LUNA) major shareholder Clinic Carilion sold 44,012 shares of the firm’s stock in a transaction that occurred on Wednesday, April 11th. The shares were sold at an average price of $3.43, for a total transaction of $150,961.16. Following the completion of the transaction, the insider now owns 2,139,664 shares of the company’s stock, valued at $7,339,047.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Luna Innovations stock traded down $0.01 during mid-day trading on Thursday, hitting $3.39. 158,758 shares of the company traded hands, compared to its average volume of 153,237. Luna Innovations Incorporated has a one year low of $1.16 and a one year high of $4.00. The company has a current ratio of 3.98, a quick ratio of 3.51 and a debt-to-equity ratio of 0.01.

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Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in Luna Innovations during the fourth quarter valued at approximately $110,000. Alambic Investment Management L.P. bought a new stake in Luna Innovations during the fourth quarter valued at approximately $178,000. Deutsche Bank AG lifted its position in Luna Innovations by 331.2% during 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 purchasing an additional 77,510 shares during the last quarter. Millennium Management LLC bought a new stake in Luna Innovations during the fourth quarter valued at approximately $327,000. Finally, EAM Investors LLC bought a new stake in Luna Innovations during the fourth quarter valued at approximately $666,000. Institutional investors and hedge funds own 18.17% of the company’s stock.

A number of equities analysts have recently commented on LUNA shares. Northland Securities restated a “buy” rating and issued a $3.25 price objective on shares of Luna Innovations in a research report on Wednesday, March 21st. Zacks Investment Research lowered shares of Luna Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd.

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Luna Innovations Company Profile

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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