Founders Financial Alliance LLC Invests $43,000 in Luna Innovations Incorporated (NASDAQ:LUNA)

Founders Financial Alliance LLC acquired a new stake in shares of Luna Innovations Incorporated (NASDAQ:LUNA) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 19,762 shares of the scientific and technical instruments company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd bought a new position in Luna Innovations in the third quarter valued at about $55,000. Raymond James Financial Inc. acquired a new position in shares of Luna Innovations in the fourth quarter valued at approximately $57,000. GSA Capital Partners LLP bought a new position in Luna Innovations in the 3rd quarter valued at approximately $144,000. Needham Investment Management LLC boosted 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 during the period. Finally, Royce & Associates LP grew its holdings in 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 acquiring an additional 107,566 shares during the last quarter. Institutional investors own 87.46% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Luna Innovations in a research note on Saturday. They set a “sell” rating for the company.

Luna Innovations Price Performance

Shares of LUNA stock opened at $0.74 on Wednesday. Luna Innovations Incorporated has a 1-year low of $0.65 and a 1-year high of $6.45. The stock has a 50-day moving average of $0.96 and a 200-day moving average of $1.56.

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.