Point72 DIFC Ltd Takes Position in Luna Innovations Incorporated (NASDAQ:LUNA)

Point72 DIFC Ltd bought a new stake in Luna Innovations Incorporated (NASDAQ:LUNA) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 12,294 shares of the scientific and technical instruments company’s stock, valued at approximately $39,000.

Other institutional investors also recently bought and sold shares of the company. Hodges Capital Management Inc. purchased a new position in Luna Innovations in the 2nd quarter worth approximately $33,000. AQR Capital Management LLC bought a new position in shares of Luna Innovations in the second quarter worth approximately $37,000. Summit Securities Group LLC purchased a new position in shares of Luna Innovations in the second quarter worth $45,000. Cubist Systematic Strategies LLC bought a new stake in Luna Innovations during the 2nd quarter valued at $48,000. Finally, SkyView Investment Advisors LLC purchased a new stake in Luna Innovations during the 2nd quarter valued at $60,000. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

Luna Innovations Stock Performance

Shares of LUNA stock opened at $2.04 on Friday. The firm has a market cap of $69.28 million, a P/E ratio of -25.50 and a beta of 1.58. The business’s 50 day moving average price is $2.40 and its 200-day moving average price is $2.81. Luna Innovations Incorporated has a fifty-two week low of $1.91 and a fifty-two week high of $7.92.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Luna Innovations in a research note on Sunday, September 29th. They set a “sell” rating for the company.

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.