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

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

Luna Innovations Stock Up 3.8 %

Shares of NASDAQ:LUNA opened at $1.63 on Friday. The business has a fifty day moving average of $1.90 and a two-hundred day moving average of $2.55. The stock has a market cap of $55.35 million, a P/E ratio of -20.38 and a beta of 1.63. Luna Innovations has a 52-week low of $1.43 and a 52-week high of $7.92.

Institutional Trading of Luna Innovations

Several large investors have recently added to or reduced their stakes in LUNA. Hodges Capital Management Inc. purchased a new position in shares of Luna Innovations during the 2nd quarter worth $33,000. Malaga Cove Capital LLC purchased a new position in shares of Luna Innovations during the 3rd quarter worth $25,000. AQR Capital Management LLC purchased a new position in shares of Luna Innovations during the 2nd quarter worth $37,000. Point72 DIFC Ltd purchased a new position in shares of Luna Innovations during the 2nd quarter worth $39,000. Finally, Summit Securities Group LLC purchased a new position in shares of Luna Innovations during the 2nd quarter worth $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.