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

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

Luna Innovations Trading Up 1.6 %

Shares of LUNA stock opened at $1.61 on Friday. The business’s fifty day simple moving average is $1.98 and its 200-day simple moving average is $2.58. The company has a market cap of $54.68 million, a PE ratio of -20.13 and a beta of 1.63. Luna Innovations has a 12-month low of $1.43 and a 12-month high of $7.92.

Hedge Funds Weigh In On Luna Innovations

A number of large investors have recently made changes to their positions in the business. Hodges Capital Management Inc. purchased a new stake in shares of Luna Innovations during the second quarter valued at $33,000. Malaga Cove Capital LLC purchased a new stake in shares of Luna Innovations during the third quarter valued at $25,000. AQR Capital Management LLC purchased a new stake in shares of Luna Innovations during the second quarter valued at $37,000. Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations during the second quarter valued at $39,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Luna Innovations during the second quarter valued at $45,000. 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.