Luna Innovations (NASDAQ:LUNA) Coverage Initiated by Analysts at StockNews.com

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

Luna Innovations Trading Down 7.9 %

LUNA stock opened at $2.10 on Thursday. The business has a 50 day simple moving average of $2.71 and a 200-day simple moving average of $3.40. The company has a market capitalization of $71.31 million, a P/E ratio of -26.25 and a beta of 1.55. Luna Innovations has a twelve month low of $1.91 and a twelve month high of $7.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LUNA. Wasatch Advisors LP boosted its stake in shares of Luna Innovations by 60.6% during 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 buying an additional 763,165 shares during the period. Vanguard Group Inc. raised its stake in Luna Innovations by 0.9% during the 1st 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 acquiring an additional 16,773 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Luna Innovations by 4.4% during 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 acquiring an additional 10,300 shares during the period. Avenir Corp grew its stake in shares of Luna Innovations by 35.3% in 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 last quarter. Finally, Marathon Capital Management increased its holdings in shares of Luna Innovations by 9.8% in the second quarter. Marathon Capital Management now owns 167,500 shares of the scientific and technical instruments company’s stock valued at $536,000 after purchasing an additional 15,000 shares during the period. 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.