Luna Innovations (NASDAQ:LUNA) Earns Sell Rating from Analysts at StockNews.com

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

Luna Innovations Stock Performance

Shares of LUNA stock opened at $0.76 on Friday. The company has a 50 day moving average of $1.12 and a 200-day moving average of $1.66. Luna Innovations has a 12-month low of $0.70 and a 12-month high of $6.89.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LUNA. Needham Investment Management LLC grew its stake in Luna Innovations by 150.0% in the 3rd quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock valued at $2,350,000 after buying an additional 600,000 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Luna Innovations by 402.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $365,000 after buying an additional 124,543 shares in the last quarter. Renaissance Technologies LLC grew its stake in Luna Innovations by 71.7% in the 4th quarter. Renaissance Technologies LLC now owns 297,600 shares of the scientific and technical instruments company’s stock valued at $643,000 after buying an additional 124,300 shares in the last quarter. Royce & Associates LP grew its stake in Luna Innovations by 4.0% in the 3rd quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock valued at $6,573,000 after buying an additional 107,566 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Luna Innovations in the 3rd quarter valued at $144,000. 87.46% of the stock is currently 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.