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

Stock analysts at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report issued on Tuesday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

NASDAQ LUNA opened at $1.72 on Tuesday. The stock has a market capitalization of $58.41 million, a P/E ratio of -21.50 and a beta of 1.58. Luna Innovations has a 52 week low of $1.43 and a 52 week high of $7.92. The stock has a fifty day moving average of $2.21 and a 200-day moving average of $2.69.

Institutional Trading of Luna Innovations

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hodges Capital Management Inc. bought a new position in Luna Innovations during the second quarter worth about $33,000. AQR Capital Management LLC acquired a new position in Luna Innovations during the second quarter valued at approximately $37,000. Point72 DIFC Ltd bought a new stake in Luna Innovations in the second quarter valued at approximately $39,000. Summit Securities Group LLC acquired a new stake in Luna Innovations in the second quarter worth $45,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Luna Innovations in the second quarter worth $48,000. 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.