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

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report report published on Sunday. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

LUNA opened at $1.86 on Friday. The business’s fifty day moving average is $1.84 and its two-hundred day moving average is $2.52. The company has a market cap of $63.17 million, a price-to-earnings ratio of -23.25 and a beta of 1.63. Luna Innovations has a one year low of $1.43 and a one year high of $7.92.

Institutional Trading of Luna Innovations

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hodges Capital Management Inc. purchased a new stake in shares of Luna Innovations in the second quarter valued at $33,000. Malaga Cove Capital LLC purchased a new stake in shares of Luna Innovations in the third quarter valued at $25,000. AQR Capital Management LLC purchased a new stake in shares of Luna Innovations in the second quarter valued at $37,000. Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations in the second quarter valued at $39,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Luna Innovations in the second quarter valued at $45,000. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

About Luna Innovations

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.