Luna Innovations (NASDAQ:LUNA) Earns Sell Rating from Analysts at StockNews.com

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

Luna Innovations Price Performance

Shares of Luna Innovations stock opened at $1.61 on Friday. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92. The firm has a fifty day moving average price of $1.95 and a two-hundred day moving average price of $2.57. The company has a market cap of $54.68 million, a PE ratio of -20.06 and a beta of 1.63.

Institutional Investors Weigh In On Luna Innovations

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP grew its holdings in shares of Luna Innovations by 4.0% during the 3rd quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock worth $6,573,000 after purchasing an additional 107,566 shares in the last quarter. GSA Capital Partners LLP bought a new position in Luna Innovations in the third quarter worth $144,000. Malaga Cove Capital LLC bought a new stake in Luna Innovations in the 3rd quarter valued at $25,000. Pinnacle Associates Ltd. increased its holdings in Luna Innovations by 402.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $365,000 after buying an additional 124,543 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Luna Innovations during the 2nd quarter worth about $39,000. 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.