Luna Innovations (NASDAQ:LUNA) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research note published on Saturday. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Down 2.4 %

Shares of Luna Innovations stock opened at $2.21 on Friday. The stock has a 50 day moving average of $2.53 and a 200 day moving average of $3.01. Luna Innovations has a 12 month low of $1.91 and a 12 month high of $7.92. The firm has a market cap of $75.05 million, a PE ratio of -27.63 and a beta of 1.58.

Hedge Funds Weigh In On Luna Innovations

A number of hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in shares of Luna Innovations by 4.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company’s stock worth $1,627,000 after buying an additional 10,300 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in Luna Innovations in the second quarter valued at $33,000. AQR Capital Management LLC acquired a new position in shares of Luna Innovations in the second quarter worth about $37,000. Point72 DIFC Ltd acquired a new position in Luna Innovations in the 2nd quarter worth about $39,000. Finally, Summit Securities Group LLC purchased a new position in Luna Innovations during the second quarter worth approximately $45,000. 87.46% of the stock is currently owned by 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.