ACK Asset Management LLC has recently announced that it has increased stake in Luna Innovations Incorporated (NASDAQ:LUNA) by 0.61%. After grabbing 1.84 million shares, the institutional investor is now in possession of 11212.0 shares of the Technology Company. The new investment brought the stake of investor firm to 5.59% having worth around $18.51 million. Moreover, The Vanguard Group, Inc. increased its share by 23055.0 to have a control over 1.44 million shares. And Columbia Management Investment Ad raised its holdings to 0.14 million shares by acquiring 0.91 million shares or 2.76% of the stake.
Luna Innovations Incorporated (LUNA) concluded trading on 03/15/23 at a closing price of $6.50, with 2.09 million shares of worth about $13.58 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 23.81% during that period and on Wednesday the price saw a loss of about -32.08%. Currently the company’s common shares owned by public are about 32.80M shares, out of which, 31.62M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 15 times over the past 12 months. They bought 354,323 shares in 8 of the transactions. In 7 selling transactions, insiders dumped 26,160 shares.
Vanguard Total Stock Market Index, Royce Pennsylvania Mutual Fund, and Columbia Small Cap Value Fund I are the top 3 mutual funds which are holding stakes in Luna Innovations Incorporated Vanguard Total Stock Market Index is currently holding 0.96 million shares of worth totaling $9.64 million. The company recently came buying 0.0 shares which brought its stake up to 2.91% of the company’s outstanding shares. Columbia Small Cap Value Fund I, after buying 0.57 million shares, have now control over 1.73% of the stake in the company. It holds 3300.0 shares of worth $5.71 million.
Luna Innovations Incorporated (NASDAQ: LUNA) started trading at $8.045, below -$1.53 from concluding price of the previous day. However, the stock later moved at a day high price of 7.96, or with a loss of -32.08%. Stock saw a price change of -36.09% in past 5 days and over the past one month there was a price change of -31.43%. Year-to-date (YTD), LUNA shares are showing a performance of -26.05% which decreased to -14.36% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.06 but also hit the highest price of $10.97 during that period. The average intraday trading volume for Luna Innovations Incorporated shares is 227.28K. The stock is currently trading -32.79% below its 20-day simple moving average (SMA20), while that difference is down -31.13% for SMA50 and it goes to -4.86% lower than SMA200.
ACK Asset Management LLC acquired 1.84 million shares of Luna Innovations Incorporated having value of about $18.51 million. Data submitted at the U.S SEC by ACK Asset Management LLC revealed that the firm now holds 11212.0 shares in the company valued at close to $72878.0, or have control over 0.61% stake in the company. Luna Innovations Incorporated (NASDAQ: LUNA) currently have 32.80M outstanding shares and institutions hold larger chunk of about 51.10% of that. Holding of mutual funds in the company is about 19.47% while other institutional holders and individual stake holders have control over 31.29% and 18.33% of the stake respectively.
The stock has a current market capitalization of $229.64M and its 3Y-monthly beta is at 1.35. It has posted earnings per share of -$0.05 in the same period. It has Quick Ratio of 1.40 while making debt-to-equity ratio of 0.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LUNA, volatility over the week remained 9.24% while standing at 5.71% over the month.
Analysts are in expectations that Luna Innovations Incorporated (LUNA) stock would likely to be making an EPS of $0.09 in the current quarter, while forecast for next quarter EPS is $0.04 and it is $0.31 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.08 which is $0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.08 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -182.40% while it is estimated to increase by 51.21% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Northland Capital on March 15, 2023 offering a Market perform rating for the stock and assigned a target price of $8 to it. Coverage by Northland Capital stated Luna Innovations Incorporated (LUNA) stock as an Outperform in their note to investors on May 23, 2022, suggesting a price target of $8 for the stock. Stock get a Buy rating from B. Riley FBR on January 15, 2019.
