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

Investment analysts at StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA) in a note issued to investors on Thursday. The firm set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Up 3.2 %

LUNA opened at $1.62 on Thursday. The company has a market cap of $55.02 million, a P/E ratio of -20.25 and a beta of 1.62. The firm’s 50-day moving average price is $1.71 and its 200-day moving average price is $2.31. Luna Innovations has a 52-week low of $1.43 and a 52-week high of $7.92.

Hedge Funds Weigh In On Luna Innovations

Several hedge funds have recently made changes to their positions in LUNA. Malaga Cove Capital LLC acquired a new position in Luna Innovations in the 3rd quarter worth approximately $25,000. Hodges Capital Management Inc. acquired a new stake in shares of Luna Innovations in the second quarter worth $33,000. AQR Capital Management LLC purchased a new stake in Luna Innovations in the second quarter valued at $37,000. Point72 DIFC Ltd acquired a new stake in Luna Innovations during the 2nd quarter worth about $39,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Luna Innovations during the 2nd quarter valued at about $48,000. 87.46% of the stock is owned by institutional investors and hedge funds.

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.