Janney Montgomery Scott LLC Reduces Position in Luna Innovations Incorporated (NASDAQ:LUNA)

Janney Montgomery Scott LLC cut its position in Luna Innovations Incorporated (NASDAQ:LUNA) by 30.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,131 shares of the scientific and technical instruments company’s stock after selling 48,800 shares during the period. Janney Montgomery Scott LLC owned 0.32% of Luna Innovations worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of LUNA. AQR Capital Management LLC purchased a new stake in shares of Luna Innovations in the 2nd quarter valued at approximately $37,000. Cubist Systematic Strategies LLC acquired a new position in shares of Luna Innovations in the 2nd quarter valued at $48,000. Pinnacle Associates Ltd. boosted its holdings in shares of Luna Innovations by 402.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $365,000 after buying an additional 124,543 shares in the last quarter. Malaga Cove Capital LLC acquired a new position in shares of Luna Innovations in the 3rd quarter valued at $25,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Luna Innovations in the 3rd quarter valued at $144,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Luna Innovations Stock Performance

Shares of Luna Innovations stock opened at $0.85 on Thursday. The company has a fifty day simple moving average of $1.34 and a 200-day simple moving average of $1.83. Luna Innovations Incorporated has a 12-month low of $0.70 and a 12-month high of $7.59.

Luna Innovations 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.