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

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report released on Sunday. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Price Performance

Shares of LUNA stock opened at $2.14 on Friday. The business’s fifty day moving average price is $2.42 and its 200 day moving average price is $2.82. Luna Innovations has a 1-year low of $1.91 and a 1-year high of $7.92. The firm has a market capitalization of $72.67 million, a PE ratio of -26.75 and a beta of 1.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hodges Capital Management Inc. purchased a new stake in Luna Innovations during the second quarter worth $33,000. AQR Capital Management LLC purchased a new stake in Luna Innovations during the second quarter worth $37,000. Point72 DIFC Ltd purchased a new stake in Luna Innovations during the second quarter worth $39,000. Summit Securities Group LLC purchased a new stake in Luna Innovations during the second quarter worth $45,000. Finally, Marathon Capital Management boosted its position in Luna Innovations by 9.8% during the second quarter. Marathon Capital Management now owns 167,500 shares of the scientific and technical instruments company’s stock worth $536,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.

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.