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 issued on Thursday. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Price Performance

LUNA opened at $1.66 on Thursday. The firm has a fifty day moving average price of $2.03 and a 200 day moving average price of $2.60. Luna Innovations has a 1 year low of $1.43 and a 1 year high of $7.92. The stock has a market cap of $56.37 million, a P/E ratio of -20.75 and a beta of 1.63.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. 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 worth $365,000 after acquiring an additional 124,543 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Luna Innovations by 353.7% during the 2nd quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock worth $497,000 after purchasing an additional 121,154 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Luna Innovations by 672.6% in the 1st quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after buying an additional 60,547 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in Luna Innovations by 61.9% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 145,740 shares of the scientific and technical instruments company’s stock valued at $466,000 after purchasing an additional 55,740 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Luna Innovations during the 2nd quarter worth $159,000. 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.