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

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

Luna Innovations Stock Performance

Shares of Luna Innovations stock opened at $0.73 on Friday. The stock’s 50-day moving average is $0.99 and its 200-day moving average is $1.58. Luna Innovations has a one year low of $0.65 and a one year high of $6.47.

Hedge Funds Weigh In On Luna Innovations

A number of large investors have recently bought and sold shares of LUNA. GSA Capital Partners LLP bought a new stake in shares of Luna Innovations in the third quarter worth $144,000. Royce & Associates LP increased its stake in Luna Innovations by 4.0% in the 3rd quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock valued at $6,573,000 after buying an additional 107,566 shares during the last quarter. Needham Investment Management LLC lifted its position in Luna Innovations by 150.0% during the 3rd quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock worth $2,350,000 after buying an additional 600,000 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Luna Innovations during the 3rd quarter worth about $55,000. Finally, Raymond James Financial Inc. bought a new position in shares of Luna Innovations in the 4th quarter valued at about $57,000. 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.