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

StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

Shares of NASDAQ LUNA opened at $1.62 on Thursday. The company has a market capitalization of $55.02 million, a PE ratio of -20.25 and a beta of 1.62. The company’s fifty day moving average price is $1.71 and its 200 day moving average price is $2.31. Luna Innovations has a 1 year low of $1.43 and a 1 year high of $7.92.

Institutional Trading of Luna Innovations

Institutional investors have recently bought and sold shares of the business. Malaga Cove Capital LLC acquired a new stake in shares of Luna Innovations in the third quarter valued at about $25,000. Hodges Capital Management Inc. purchased a new position in Luna Innovations in the 2nd quarter valued at about $33,000. AQR Capital Management LLC acquired a new stake in Luna Innovations in the 2nd quarter worth about $37,000. Point72 DIFC Ltd purchased a new stake in Luna Innovations during the 2nd quarter worth approximately $39,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Luna Innovations in the second quarter valued at approximately $48,000. 87.46% of the stock is 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.