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

Equities research analysts at StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

LUNA stock opened at $1.07 on Monday. Luna Innovations has a fifty-two week low of $0.70 and a fifty-two week high of $7.92. The company has a 50 day moving average price of $1.57 and a 200 day moving average price of $2.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Malaga Cove Capital LLC acquired a new position in Luna Innovations during the third quarter valued at approximately $25,000. AQR Capital Management LLC bought a new stake in shares of Luna Innovations in the second quarter valued at about $37,000. Point72 DIFC Ltd acquired a new position in shares of Luna Innovations during the 2nd quarter worth approximately $39,000. Cubist Systematic Strategies LLC bought a new position in Luna Innovations during the 2nd quarter worth $48,000. Finally, XTX Topco Ltd bought a new stake in Luna Innovations during the third quarter worth about $55,000. Institutional investors own 87.46% of the company’s stock.

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.