Luna Innovations (NASDAQ:LUNA) Coverage Initiated by Analysts at StockNews.com

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

Luna Innovations Stock Down 4.5 %

NASDAQ LUNA opened at $1.69 on Wednesday. The company has a fifty day moving average of $2.14 and a two-hundred day moving average of $2.65. The firm has a market capitalization of $57.39 million, a price-to-earnings ratio of -21.13 and a beta of 1.58. Luna Innovations has a 52 week low of $1.43 and a 52 week high of $7.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LUNA. Wasatch Advisors LP boosted its stake in shares of Luna Innovations by 60.6% during the first quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock valued at $6,484,000 after purchasing an additional 763,165 shares during the period. Vanguard Group Inc. boosted its stake in shares of Luna Innovations by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock valued at $5,919,000 after purchasing an additional 16,773 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Luna Innovations by 672.6% during the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock valued at $223,000 after purchasing an additional 60,547 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Luna Innovations during the second quarter valued at $107,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations during the second quarter valued at $39,000. 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.