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

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

Luna Innovations Stock Performance

Shares of LUNA opened at $1.54 on Wednesday. The company’s 50-day simple moving average is $1.72 and its 200-day simple moving average is $2.37. Luna Innovations has a 1 year low of $1.43 and a 1 year high of $7.92. The stock has a market capitalization of $52.30 million, a PE ratio of -19.25 and a beta of 1.62.

Institutional Trading of Luna Innovations

A number of large investors have recently modified their holdings of LUNA. Malaga Cove Capital LLC acquired a new position in Luna Innovations during the 3rd quarter worth $25,000. Hodges Capital Management Inc. acquired a new position in shares of Luna Innovations during the second quarter worth about $33,000. AQR Capital Management LLC purchased a new stake in shares of Luna Innovations during the second quarter worth approximately $37,000. Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations during the second quarter worth approximately $39,000. Finally, Summit Securities Group LLC acquired a new stake in Luna Innovations in the second quarter valued at approximately $45,000. Hedge funds and other 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.