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

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

Luna Innovations Trading Down 2.5 %

NASDAQ LUNA opened at $1.77 on Tuesday. Luna Innovations has a 12 month low of $1.43 and a 12 month high of $7.92. The stock’s fifty day moving average price is $1.75 and its 200-day moving average price is $2.42. The stock has a market cap of $59.94 million, a P/E ratio of -22.06 and a beta of 1.62.

Institutional Trading of Luna Innovations

Several large investors have recently added to or reduced their stakes in LUNA. Vanguard Group Inc. grew its position in shares of Luna Innovations by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock valued at $5,919,000 after purchasing an additional 16,773 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Luna Innovations in the 2nd quarter worth about $107,000. Summit Securities Group LLC purchased a new stake in Luna Innovations in the second quarter worth $45,000. Hodges Capital Management Inc. purchased a new position in shares of Luna Innovations during the second quarter worth approximately $33,000. Finally, Bradley Foster & Sargent Inc. CT raised its position 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 valued at $466,000 after purchasing an additional 55,740 shares in the last quarter. 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.