Acadian Asset Management LLC lowered its stake in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,167 shares of the scientific and technical instruments company’s stock after selling 18,671 shares during the period. Acadian Asset Management LLC owned approximately 0.40% of Luna Innovations worth $356,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LUNA. Alambic Investment Management L.P. raised its holdings in shares of Luna Innovations by 21.1% in the second quarter. Alambic Investment Management L.P. now owns 106,574 shares of the scientific and technical instruments company’s stock valued at $318,000 after buying an additional 18,563 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Luna Innovations by 8.5% during the second quarter. Renaissance Technologies LLC now owns 1,104,905 shares of the scientific and technical instruments company’s stock worth $3,293,000 after purchasing an additional 87,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Luna Innovations by 82.8% during the second quarter. Dimensional Fund Advisors LP now owns 388,257 shares of the scientific and technical instruments company’s stock worth $1,157,000 after purchasing an additional 175,903 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Luna Innovations by 6.9% during the second quarter. Janney Montgomery Scott LLC now owns 450,400 shares of the scientific and technical instruments company’s stock worth $1,342,000 after purchasing an additional 29,000 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Luna Innovations by 96.5% during the first 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. 22.79% of the stock is currently owned by institutional investors.

NASDAQ LUNA opened at $3.42 on Wednesday. The stock has a market cap of $97.22 million, a P/E ratio of 34.80 and a beta of 0.74. Luna Innovations Incorporated has a 52-week low of $2.03 and a 52-week high of $4.32.

Luna Innovations (NASDAQ:LUNA) last posted its quarterly earnings results on Thursday, November 15th. The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $10.69 million during the quarter, compared to analysts’ expectations of $9.90 million. Luna Innovations had a net margin of 20.93% and a return on equity of 6.18%. As a group, analysts predict that Luna Innovations Incorporated will post 0.07 EPS for the current fiscal year.

Several research analysts recently issued reports on the stock. Dawson James assumed coverage on shares of Luna Innovations in a report on Tuesday, October 2nd. They set a “buy” rating for the company. Zacks Investment Research raised shares of Luna Innovations from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Northland Securities cut shares of Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 price target for the company. in a report on Friday, August 3rd.

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

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