Luna Innovations (NASDAQ:LUNA) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report sent to investors on Saturday. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

NASDAQ LUNA opened at $2.14 on Friday. The firm has a market capitalization of $72.67 million, a P/E ratio of -26.75 and a beta of 1.58. The stock has a 50-day simple moving average of $2.49 and a two-hundred day simple moving average of $2.92. Luna Innovations has a fifty-two week low of $1.91 and a fifty-two week high of $7.92.

Institutional Trading of Luna Innovations

A number of hedge funds have recently added to or reduced their stakes in LUNA. Point72 DIFC Ltd purchased a new position in Luna Innovations during the second quarter worth approximately $39,000. Cubist Systematic Strategies LLC purchased a new position in shares of Luna Innovations during the 2nd quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Luna Innovations in the 2nd quarter valued at $159,000. SkyView Investment Advisors LLC purchased a new stake in Luna Innovations in the 2nd quarter worth $60,000. Finally, Marathon Capital Management raised its position in Luna Innovations by 9.8% during the second quarter. Marathon Capital Management now owns 167,500 shares of the scientific and technical instruments company’s stock worth $536,000 after acquiring an additional 15,000 shares during the period. 87.46% of the stock is owned by hedge funds and other institutional investors.

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.