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

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

Luna Innovations Trading Up 2.0 %

Shares of LUNA stock opened at $2.05 on Friday. The business’s 50 day moving average is $1.75 and its two-hundred day moving average is $2.24. Luna Innovations has a twelve month low of $1.43 and a twelve month high of $7.92. The company has a market capitalization of $69.62 million, a P/E ratio of -25.63 and a beta of 1.62.

Institutional Trading of Luna Innovations

A number of institutional investors have recently modified their holdings of LUNA. Malaga Cove Capital LLC purchased a new stake in shares of Luna Innovations in the third quarter valued at approximately $25,000. AQR Capital Management LLC purchased a new stake in shares of Luna Innovations in the second quarter valued at approximately $37,000. Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations in the second quarter valued at approximately $39,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Luna Innovations in the second quarter valued at approximately $48,000. Finally, XTX Topco Ltd purchased a new stake in shares of Luna Innovations in the third quarter valued at approximately $55,000. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

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.