StockNews.com Initiates Coverage on Luna Innovations (NASDAQ:LUNA)

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

Luna Innovations Stock Performance

Shares of Luna Innovations stock opened at $1.61 on Friday. The company has a fifty day moving average of $1.95 and a 200 day moving average of $2.57. The company has a market capitalization of $54.50 million, a P/E ratio of -20.06 and a beta of 1.63. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92.

Institutional Trading of Luna Innovations

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Malaga Cove Capital LLC bought a new position in Luna Innovations in the 3rd quarter worth approximately $25,000. Hodges Capital Management Inc. purchased a new position in shares of Luna Innovations in the second quarter worth $33,000. AQR Capital Management LLC bought a new position in shares of Luna Innovations during the second quarter worth $37,000. Point72 DIFC Ltd purchased a new position in Luna Innovations during the second quarter valued at $39,000. Finally, Summit Securities Group LLC bought a new stake in Luna Innovations in the 2nd quarter valued at $45,000. Institutional investors 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.