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

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

Luna Innovations Stock Performance

Luna Innovations stock opened at $1.77 on Wednesday. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92. The company has a market cap of $60.11 million, a PE ratio of -22.13 and a beta of 1.58. The business’s 50-day simple moving average is $2.16 and its two-hundred day simple moving average is $2.66.

Hedge Funds Weigh In On Luna Innovations

A number of institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP increased its stake in shares of Luna Innovations by 60.6% in the first quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after acquiring an additional 763,165 shares during the period. Vanguard Group Inc. boosted its stake in shares of Luna Innovations by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock worth $5,919,000 after buying an additional 16,773 shares during the last quarter. Marathon Capital Management grew its holdings in Luna Innovations by 9.8% during the second quarter. Marathon Capital Management now owns 167,500 shares of the scientific and technical instruments company’s stock worth $536,000 after acquiring an additional 15,000 shares during the period. Squarepoint Ops LLC raised its position in Luna Innovations by 353.7% during the second quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock valued at $497,000 after acquiring an additional 121,154 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its holdings in Luna Innovations by 61.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 145,740 shares of the scientific and technical instruments company’s stock valued at $466,000 after acquiring an additional 55,740 shares during the period. 87.46% of the stock is owned by hedge funds and other institutional investors.

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.