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

Investment analysts at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report released on Sunday. The firm set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Up 1.4 %

Shares of LUNA stock opened at $2.21 on Friday. The firm has a market capitalization of $75.05 million, a P/E ratio of -27.63 and a beta of 1.58. Luna Innovations has a twelve month low of $1.91 and a twelve month high of $7.92. The stock’s fifty day simple moving average is $2.45 and its 200 day simple moving average is $2.88.

Institutional Investors Weigh In On Luna Innovations

A number of institutional investors have recently added to or reduced their stakes in LUNA. Wasatch Advisors LP grew its stake in shares of Luna Innovations by 60.6% in the first quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after purchasing an additional 763,165 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Luna Innovations by 353.7% in the second quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock worth $497,000 after acquiring an additional 121,154 shares during the period. BNP Paribas Financial Markets boosted its holdings in Luna Innovations by 672.6% in the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock valued at $223,000 after acquiring an additional 60,547 shares during the last quarter. Avenir Corp increased its position in Luna Innovations by 35.3% during the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock valued at $1,471,000 after purchasing an additional 57,700 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in Luna Innovations by 61.9% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 145,740 shares of the scientific and technical instruments company’s stock worth $466,000 after purchasing an additional 55,740 shares during the last quarter. 87.46% of the stock is owned by 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.