Luna Innovations (NASDAQ:LUNA) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report issued on Monday. The firm set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Price Performance

Shares of NASDAQ LUNA opened at $1.76 on Monday. The company has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $2.48. Luna Innovations has a 1 year low of $1.43 and a 1 year high of $7.92. The firm has a market cap of $59.77 million, a PE ratio of -22.00 and a beta of 1.63.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LUNA. Needham Investment Management LLC increased its stake in shares of Luna Innovations by 150.0% in the third quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock valued at $2,350,000 after buying an additional 600,000 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Luna Innovations by 402.5% in the third quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $365,000 after acquiring an additional 124,543 shares during the last quarter. Squarepoint Ops LLC increased its position in Luna Innovations by 353.7% during the 2nd quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock valued at $497,000 after purchasing an additional 121,154 shares during the period. Royce & Associates LP raised 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 purchasing an additional 107,566 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Luna Innovations in the 3rd quarter worth approximately $144,000. 87.46% of the stock is owned by institutional investors.

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.