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

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

Luna Innovations Stock Down 12.1 %

Shares of LUNA opened at $1.67 on Tuesday. Luna Innovations has a 12-month low of $1.63 and a 12-month high of $7.92. The business has a 50-day simple moving average of $2.26 and a two-hundred day simple moving average of $2.71. The stock has a market cap of $56.71 million, a PE ratio of -20.88 and a beta of 1.58.

Institutional Investors Weigh In On Luna Innovations

Several institutional investors and hedge funds have recently made changes to their positions in LUNA. Hodges Capital Management Inc. bought a new stake in shares of Luna Innovations during the 2nd quarter valued at about $33,000. AQR Capital Management LLC bought a new stake in shares of Luna Innovations during the 2nd quarter valued at about $37,000. Point72 DIFC Ltd bought a new stake in shares of Luna Innovations during the 2nd quarter valued at about $39,000. Summit Securities Group LLC bought a new stake in shares of Luna Innovations during the 2nd quarter valued at about $45,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Luna Innovations during the 2nd quarter valued at about $48,000. 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.