Janney Montgomery Scott LLC Acquires 29,000 Shares of Luna Innovations Incorporated (LUNA)

Janney Montgomery Scott LLC raised its position in Luna Innovations Incorporated (NASDAQ:LUNA) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,400 shares of the scientific and technical instruments company’s stock after purchasing an additional 29,000 shares during the quarter. Janney Montgomery Scott LLC owned about 1.65% of Luna Innovations worth $1,342,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Acadian Asset Management LLC raised its stake in Luna Innovations by 106.1% during the 2nd quarter. Acadian Asset Management LLC now owns 128,838 shares of the scientific and technical instruments company’s stock valued at $384,000 after buying an additional 66,327 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Luna Innovations in the 1st quarter worth $401,000. Dimensional Fund Advisors LP increased its stake in shares of Luna Innovations by 50.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 212,354 shares of the scientific and technical instruments company’s stock worth $688,000 after purchasing an additional 71,055 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Luna Innovations by 96.5% in the 1st quarter. JPMorgan Chase & Co. now owns 63,491 shares of the scientific and technical instruments company’s stock worth $206,000 after purchasing an additional 31,184 shares in the last quarter. Finally, Alambic Investment Management L.P. increased its stake in shares of Luna Innovations by 20.2% in the 1st quarter. Alambic Investment Management L.P. now owns 88,011 shares of the scientific and technical instruments company’s stock worth $285,000 after purchasing an additional 14,766 shares in the last quarter. Institutional investors own 23.32% of the company’s stock.

In related news, major shareholder Clinic Carilion sold 39,497 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $3.40, for a total value of $134,289.80. Following the completion of the transaction, the insider now owns 2,005,233 shares of the company’s stock, valued at approximately $6,817,792.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.60% of the company’s stock.

Several equities research analysts have recently commented on LUNA shares. Zacks Investment Research lowered Luna Innovations from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Northland Securities lowered Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 price objective for the company. in a research note on Friday, August 3rd.

Luna Innovations stock traded up $0.04 during mid-day trading on Friday, hitting $3.72. The stock had a trading volume of 71,600 shares, compared to its average volume of 134,494. The company has a market capitalization of $97.54 million, a P/E ratio of 44.63 and a beta of 0.91. Luna Innovations Incorporated has a one year low of $1.40 and a one year high of $4.32.

Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $13.77 million during the quarter, compared to the consensus estimate of $12.90 million. Luna Innovations had a net margin of 34.13% and a return on equity of 4.98%. analysts anticipate that Luna Innovations Incorporated will post 0.07 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Luna Innovations (NASDAQ:LUNA)

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