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

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

Luna Innovations Stock Performance

NASDAQ:LUNA opened at $0.85 on Wednesday. The company’s fifty day moving average price is $1.34 and its 200-day moving average price is $1.83. Luna Innovations has a 1-year low of $0.70 and a 1-year high of $7.59.

Hedge Funds Weigh In On Luna Innovations

Several institutional investors and hedge funds have recently modified their holdings of LUNA. Malaga Cove Capital LLC purchased a new position in Luna Innovations during the third quarter valued at approximately $25,000. AQR Capital Management LLC acquired a new stake in shares of Luna Innovations during the 2nd quarter worth approximately $37,000. Cubist Systematic Strategies LLC purchased a new position in shares of Luna Innovations during the 2nd quarter valued at approximately $48,000. Prudential Financial Inc. acquired a new position in shares of Luna Innovations in the 4th quarter valued at $39,000. Finally, Founders Financial Alliance LLC purchased a new stake in Luna Innovations during the fourth quarter worth $43,000. Institutional investors and hedge funds 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.