StockNews.com Begins Coverage on Luna Innovations (NASDAQ:LUNA)

Research analysts at StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report issued on Wednesday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Up 0.6 %

Luna Innovations stock opened at $1.55 on Wednesday. The firm has a market capitalization of $52.64 million, a P/E ratio of -19.38 and a beta of 1.62. The stock’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $2.36. Luna Innovations has a twelve month low of $1.43 and a twelve month high of $7.92.

Hedge Funds Weigh In On Luna Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hodges Capital Management Inc. purchased a new stake in shares of Luna Innovations during the second quarter worth approximately $33,000. Malaga Cove Capital LLC purchased a new stake in shares of Luna Innovations in the 3rd quarter valued at approximately $25,000. AQR Capital Management LLC purchased a new stake in shares of Luna Innovations in the 2nd quarter valued at approximately $37,000. Point72 DIFC Ltd acquired a new stake in shares of Luna Innovations in the 2nd quarter valued at $39,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Luna Innovations during the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.

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.