Luna Innovations (NASDAQ:LUNA) Now Covered by StockNews.com

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

Luna Innovations Stock Up 1.4 %

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

Institutional Trading of Luna Innovations

Large investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its stake in Luna Innovations by 75.0% in the fourth quarter. Wasatch Advisors LP now owns 1,260,077 shares of the scientific and technical instruments company’s stock valued at $8,380,000 after acquiring an additional 539,933 shares during the period. Vanguard Group Inc. raised its holdings in 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 worth $5,919,000 after buying an additional 16,773 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Luna Innovations by 672.6% during 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 buying an additional 60,547 shares during the last quarter. Avenir Corp increased its position in shares of Luna Innovations by 35.3% during the fourth quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock worth $1,471,000 after acquiring an additional 57,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Luna Innovations in the 2nd quarter valued at about $107,000. 87.46% of the stock is currently owned by institutional investors and hedge funds.

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.