Luna Innovations (NASDAQ:LUNA) Receives New Coverage from Analysts at StockNews.com

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

Luna Innovations Stock Down 12.9 %

Luna Innovations stock opened at $1.46 on Tuesday. The company has a market cap of $49.41 million, a price-to-earnings ratio of -18.19 and a beta of 1.58. The firm’s fifty day moving average is $2.23 and its 200 day moving average is $2.70. Luna Innovations has a 52-week low of $1.43 and a 52-week high of $7.92.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Hodges Capital Management Inc. bought a new position in Luna Innovations during the second quarter valued at $33,000. AQR Capital Management LLC bought a new position in shares of Luna Innovations in the second quarter worth about $37,000. Point72 DIFC Ltd bought a new position in shares of Luna Innovations in the second quarter worth about $39,000. Summit Securities Group LLC bought a new position in shares of Luna Innovations in the second quarter worth about $45,000. Finally, Marathon Capital Management grew 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 worth $536,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors own 87.46% of the company’s stock.

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.