Luna Innovations: Pump Up the Volume
By Robert Holmes 10/08/09 - 03:24 PM EDT Leave a Comment
Stock quotes in this article: LUNA , HNSN
ROANOKE, Va. (TheStreet) -- Luna Innovations (LUNA Quote) shares jumped higher at midday Thursday on a surge in volume after the company received a grant for electrochemical capacitors.
More on LUNALuna Innovations: Pump Up The Volume
Market ActivityHansen Medical Incorporated| HNSN
DOWN
Luna Innovations Incorporated| LUNA
UP
Luna Innovations was lately up 34 cents, or 17.8%, to $2.25 on volume that topped 1.1 million shares. The stock has a three-month average daily volume of 452,000, according to Yahoo! Finance.
The spike in share price and volume came after reports that the Department of Energy listed Luna as receiving a grant for a project that will develop high energy and high power capacitors suitable for use in hybrid electric vehicles.
A telephone call to Karin Clark, director of marketing and communications for Luna Innovations, was not immediately returned.
Luna Innovations has a 7.7 million-share float with about 2,000 shares short as of Sept. 10, according to Yahoo! Finance. More than 44% of the company's shares are held by insiders with another 4.9% owned by institutions.
Luna Innovations shares have seen above-average volume over the last 10 trading sessions, sparked by a report in The Roanoke Times that Luna and Hansen Medical (HNSN Quote) "have developed a framework for settlement" that would reduce a $36.3 million jury verdict against Luna to a more manageable sum, according to a letter written to bankruptcy court Judge William Stone from attorneys on both sides of the case.
In 2006, Luna was set to apply its nanotechnology instruments to assist Hansen in developing catheters used for heart surgery, but the deal fell apart after Hansen accused Luna of sharing trade secrets with another company. A jury eventually ruled against Luna, and the company filed for Chapter 11 bankruptcy protection in July.
Read more about today's high-volume stocks like Euro Tech Holdings in earlier "Pump Up the Volume" posts.
-- Written by Robert Holmes in New York.
Recent LUNA News
- Luna Innovations Incorporated Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before May 31, 2024 to Discuss Your Rights - LUNA • PR Newswire (US) • 05/07/2024 09:45:00 AM
- Luna Innovations Announces Inducement Grants Under NASDAQ Listing Rule 5635(C)(4) • Business Wire • 05/03/2024 01:20:00 PM
- The Gross Law Firm Reminds Luna Innovations Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of May 31, 2024 - LUNA • PR Newswire (US) • 05/03/2024 09:45:00 AM
- Luna Innovations Appoints New Senior Leadership Across Sales and Product Marketing • Business Wire • 05/02/2024 01:20:00 PM
- Luna Innovations Retains Industry Veterans to Lead Strategy, Operations and Finance • Business Wire • 05/01/2024 09:05:00 PM
- Investors in Luna Innovations Incorporated Should Contact The Gross Law Firm Before May 31, 2024 to Discuss Your Rights - LUNA • PR Newswire (US) • 04/26/2024 09:45:00 AM
- Luna Innovations Announces Restatement of Financial Statements • Business Wire • 04/19/2024 12:30:00 PM
- The Gross Law Firm Notifies Shareholders of Luna Innovations Incorporated(LUNA) of a Class Action Lawsuit and an Upcoming Deadline • PR Newswire (US) • 04/19/2024 10:25:00 AM
- The Gross Law Firm Announces the Filing of a Securities Class Action on Behalf of Luna Innovations Incorporated (LUNA) Shareholders • PR Newswire (US) • 04/16/2024 10:20:00 AM
- The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of May 31, 2024 in Luna Innovations Incorporated Lawsuit - LUNA • PR Newswire (US) • 04/09/2024 10:30:00 AM
- Luna Innovations Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K • Business Wire • 04/08/2024 01:05:00 PM
- The Gross Law Firm Reminds Luna Innovations Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of May 31, 2024 - LUNA • PR Newswire (US) • 04/05/2024 09:45:00 AM
- U.S. Index Futures on the Rise, Oil Prices Show Stability • IH Market News • 03/26/2024 11:21:42 AM
- Luna Innovations Announces CEO Transition • Business Wire • 03/25/2024 11:30:00 AM
- Luna Innovations to Delay Release of Fourth Quarter and Full Year 2023 Financial Results • Business Wire • 03/12/2024 08:20:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 10:28:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 10:27:47 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/26/2024 10:26:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 10:17:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 10:16:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 10:15:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/18/2024 10:30:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/18/2024 10:29:26 PM
- Luna to Present at Needham Growth Conference • Business Wire • 01/11/2024 01:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/08/2024 10:20:11 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM