Millennium Management LLC lowered its holdings in Luna Innovations Incorporated (NASDAQ:LUNA) by 45.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,075 shares of the scientific and technical instruments company’s stock after selling 61,602 shares during the period. Millennium Management LLC’s holdings in Luna Innovations were worth $237,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Luna Innovations by 45.7% in the fourth quarter. Renaissance Technologies LLC now owns 841,005 shares of the scientific and technical instruments company’s stock worth $2,044,000 after acquiring an additional 263,700 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Luna Innovations by 50.3% in the first quarter. Dimensional Fund Advisors LP now owns 212,354 shares of the scientific and technical instruments company’s stock worth $688,000 after acquiring an additional 71,055 shares during the last quarter. Algert Global LLC lifted its holdings in Luna Innovations by 434.5% in the first quarter. Algert Global LLC now owns 201,843 shares of the scientific and technical instruments company’s stock worth $654,000 after acquiring an additional 164,077 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Luna Innovations in the first quarter worth about $401,000. Finally, Deutsche Bank AG lifted its holdings in 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 worth $244,000 after acquiring an additional 77,510 shares during the last quarter. 26.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on LUNA. Zacks Investment Research raised shares of Luna Innovations from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Northland Securities cut shares of Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 target price on the stock. in a report on Friday, August 3rd.
LUNA opened at $3.54 on Wednesday. The company has a market cap of $98.91 million, a PE ratio of 45.25 and a beta of 0.91. Luna Innovations Incorporated has a twelve month low of $1.35 and a twelve month high of $4.32.
Luna Innovations (NASDAQ:LUNA) last released its quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The company had revenue of $13.77 million for the quarter, compared to analysts’ expectations of $12.90 million. Luna Innovations had a return on equity of 4.98% and a net margin of 34.13%. sell-side analysts forecast that Luna Innovations Incorporated will post 0.07 EPS for the current year.
In other news, major shareholder Clinic Carilion sold 39,497 shares of Luna Innovations stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $3.40, for a total transaction of $134,289.80. Following the sale, the insider now owns 2,005,233 shares of the company’s stock, valued at $6,817,792.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 61,352 shares of company stock worth $208,725. Corporate insiders own 10.60% of the company’s stock.
About Luna Innovations
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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