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 report report published on Sunday morning. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Down 4.2 %

LUNA stock opened at $0.69 on Friday. Luna Innovations has a twelve month low of $0.65 and a twelve month high of $4.77. The stock has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $1.53.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. purchased a new position in Luna Innovations during the 4th quarter valued at about $39,000. Founders Financial Alliance LLC purchased a new position in shares of Luna Innovations during the fourth quarter worth about $43,000. XTX Topco Ltd purchased a new position in shares of Luna Innovations during the third quarter worth about $55,000. Raymond James Financial Inc. purchased a new position in shares of Luna Innovations during the fourth quarter worth about $57,000. Finally, Virtu Financial LLC purchased a new position in shares of Luna Innovations during the fourth quarter worth about $78,000. Hedge funds and other 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.