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

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

Luna Innovations Stock Up 7.8 %

NASDAQ LUNA opened at $0.90 on Thursday. The company has a fifty day simple moving average of $1.20 and a 200 day simple moving average of $1.73. Luna Innovations has a 1 year low of $0.70 and a 1 year high of $7.29.

Hedge Funds Weigh In On Luna Innovations

A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP increased its position in shares of Luna Innovations by 4.0% during the 3rd quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock worth $6,573,000 after purchasing an additional 107,566 shares in the last quarter. Needham Investment Management LLC boosted its stake in shares of Luna Innovations by 17.5% in the 4th quarter. Needham Investment Management LLC now owns 1,175,000 shares of the scientific and technical instruments company’s stock valued at $2,538,000 after purchasing an additional 175,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Luna Innovations by 71.7% during the 4th quarter. Renaissance Technologies LLC now owns 297,600 shares of the scientific and technical instruments company’s stock worth $643,000 after acquiring an additional 124,300 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Luna Innovations by 402.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock worth $365,000 after acquiring an additional 124,543 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Luna Innovations by 40.3% during the 4th quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock worth $226,000 after acquiring an additional 29,981 shares during the last quarter. Institutional investors and hedge funds 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.