Luna Innovations (NASDAQ:LUNA) Earns Sell Rating from Analysts at StockNews.com

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

Luna Innovations Stock Down 3.2 %

Luna Innovations stock opened at $1.50 on Wednesday. The firm has a fifty day simple moving average of $1.71 and a two-hundred day simple moving average of $2.35. Luna Innovations has a twelve month low of $1.43 and a twelve month high of $7.92. The company has a market capitalization of $50.94 million, a PE ratio of -18.75 and a beta of 1.62.

Hedge Funds Weigh In On Luna Innovations

A number of large investors have recently bought and sold shares of LUNA. Malaga Cove Capital LLC bought a new position in shares of Luna Innovations in the third quarter worth approximately $25,000. Hodges Capital Management Inc. purchased a new stake in Luna Innovations during the 2nd quarter valued at $33,000. AQR Capital Management LLC bought a new stake in Luna Innovations in the 2nd quarter worth $37,000. Point72 DIFC Ltd purchased a new position in shares of Luna Innovations in the second quarter valued at about $39,000. Finally, Summit Securities Group LLC bought a new position in shares of Luna Innovations during the second quarter valued at about $45,000. 87.46% of the stock is owned by hedge funds and other 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.