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

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

Luna Innovations Stock Down 4.5 %

NASDAQ:LUNA opened at $0.85 on Wednesday. The company has a 50-day moving average price of $1.36 and a 200-day moving average price of $1.84. Luna Innovations has a 12 month low of $0.70 and a 12 month high of $7.92.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Luna Innovations in the 3rd quarter worth about $55,000. GSA Capital Partners LLP bought a new position in shares of Luna Innovations in the 3rd quarter worth about $144,000. AQR Capital Management LLC bought a new position in shares of Luna Innovations in the 2nd quarter worth about $37,000. Cubist Systematic Strategies LLC bought a new position in shares of Luna Innovations in the 2nd quarter worth about $48,000. Finally, Pinnacle Associates Ltd. increased its stake in shares of Luna Innovations by 402.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock worth $365,000 after acquiring an additional 124,543 shares in the last quarter. 87.46% of the stock is currently 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.