Royce & Associates LP Cuts Stock Holdings in Luna Innovations Incorporated (NASDAQ:LUNA)

Royce & Associates LP reduced its stake in Luna Innovations Incorporated (NASDAQ:LUNA) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,717,789 shares of the scientific and technical instruments company’s stock after selling 79,249 shares during the quarter. Royce & Associates LP owned about 0.08% of Luna Innovations worth $5,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Needham Investment Management LLC lifted its stake in Luna Innovations by 150.0% during the third quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock worth $2,350,000 after purchasing an additional 600,000 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Luna Innovations during the 3rd quarter valued at about $144,000. Raymond James Financial Inc. bought a new stake in Luna Innovations in the 4th quarter worth approximately $57,000. XTX Topco Ltd purchased a new stake in Luna Innovations in the third quarter worth approximately $55,000. Finally, Founders Financial Alliance LLC bought a new position in Luna Innovations during the fourth quarter valued at approximately $43,000. 87.46% of the stock is currently owned by institutional investors.

Luna Innovations Stock Down 12.5 %

Shares of NASDAQ:LUNA opened at $0.70 on Thursday. The stock’s 50-day moving average price is $0.87 and its 200-day moving average price is $1.50. Luna Innovations Incorporated has a 12-month low of $0.65 and a 12-month high of $4.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Luna Innovations in a report on Sunday. They issued a “sell” rating for the company.

Luna Innovations Company Profile

Luna Innovations Incorporated provides fiber optic test, measurement, and control products worldwide. The company offers test and measurement equipment for fiber optic components and sub-assemblies; polarization control products, including components, modules, and instruments to measure, manage, and control polarization and group delay in fiber optic networks; tunable lasers; and single frequency lasers.