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

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

Luna Innovations Trading Up 23.9 %

NASDAQ:LUNA opened at $1.09 on Friday. The stock has a market capitalization of $37.02 million, a PE ratio of -13.63 and a beta of 1.56. Luna Innovations has a 1-year low of $0.70 and a 1-year high of $7.92. The firm has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $2.15.

Institutional Investors Weigh In On Luna Innovations

A number of institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Luna Innovations during the third quarter worth approximately $55,000. Needham Investment Management LLC boosted its stake in shares of Luna Innovations by 150.0% during the 3rd quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock worth $2,350,000 after acquiring an additional 600,000 shares during the period. Royce & Associates LP increased 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 acquiring an additional 107,566 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Luna Innovations in the 3rd quarter valued at $144,000. Finally, Malaga Cove Capital LLC bought a new position in Luna Innovations during the third quarter worth $25,000. 87.46% of the stock is owned by institutional investors.

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.