StockNews.com started coverage on shares of Luna Innovations (NASDAQ:LUNA – Free Report) in a research note published on Sunday. The firm issued a sell rating on the scientific and technical instruments company’s stock.
Luna Innovations Stock Performance
LUNA stock opened at $1.78 on Friday. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92. The company has a market capitalization of $60.45 million, a price-to-earnings ratio of -22.25 and a beta of 1.63. The business’s 50 day moving average price is $1.82 and its two-hundred day moving average price is $2.50.
Hedge Funds Weigh In On Luna Innovations
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Luna Innovations by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock worth $5,919,000 after buying an additional 16,773 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Luna Innovations during the second quarter worth about $107,000. Point72 DIFC Ltd bought a new stake in Luna Innovations during the second quarter worth about $39,000. AQR Capital Management LLC purchased a new stake in Luna Innovations in the second quarter worth about $37,000. Finally, Summit Securities Group LLC bought a new position in shares of Luna Innovations during the second quarter valued at approximately $45,000. Institutional investors own 87.46% of the company’s stock.
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.
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