Luna Innovations (NASDAQ:LUNA) Coverage Initiated at StockNews.com

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

Luna Innovations Stock Down 5.4 %

NASDAQ LUNA opened at $0.53 on Tuesday. The stock’s 50-day moving average is $0.79 and its 200-day moving average is $1.40. Luna Innovations has a one year low of $0.53 and a one year high of $3.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. bought a new position in shares of Luna Innovations during the fourth quarter worth about $39,000. Founders Financial Alliance LLC bought a new position in shares of Luna Innovations during the 4th quarter worth approximately $43,000. XTX Topco Ltd acquired a new stake in shares of Luna Innovations in the third quarter valued at approximately $55,000. Raymond James Financial Inc. bought a new stake in shares of Luna Innovations in the fourth quarter worth $57,000. Finally, Squarepoint Ops LLC boosted its holdings in Luna Innovations by 40.3% during the fourth quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock worth $226,000 after purchasing an additional 29,981 shares during the last quarter. Institutional investors and hedge funds 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.