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 research report released on Saturday morning. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

Shares of NASDAQ:LUNA opened at $1.65 on Friday. The company has a market capitalization of $56.03 million, a P/E ratio of -20.63 and a beta of 1.63. The company’s 50-day moving average is $1.88 and its 200 day moving average is $2.55. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Luna Innovations by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock valued at $5,919,000 after purchasing an additional 16,773 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Luna Innovations by 672.6% during 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 acquiring an additional 60,547 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Luna Innovations during the 2nd quarter worth $107,000. Point72 DIFC Ltd bought a new stake in Luna Innovations in the 2nd quarter valued at about $39,000. Finally, AQR Capital Management LLC bought a new stake in Luna Innovations in the 2nd quarter valued at about $37,000. 87.46% of the stock is owned by 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.