Luna Innovations (NASDAQ:LUNA) Earns Sell Rating from Analysts at StockNews.com

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

Luna Innovations Price Performance

Shares of Luna Innovations stock opened at $2.21 on Friday. The business has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $3.03. Luna Innovations has a 1 year low of $1.91 and a 1 year high of $7.92. The company has a market capitalization of $75.05 million, a price-to-earnings ratio of -27.63 and a beta of 1.58.

Institutional Trading of Luna Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hodges Capital Management Inc. bought a new position in Luna Innovations during the 2nd quarter worth $33,000. AQR Capital Management LLC acquired a new position in Luna Innovations in the second quarter valued at about $37,000. Point72 DIFC Ltd bought a new stake in Luna Innovations during the second quarter worth about $39,000. Summit Securities Group LLC bought a new stake in Luna Innovations during the second quarter worth about $45,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Luna Innovations during the second quarter worth about $48,000. 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.