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

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

Luna Innovations Stock Up 3.8 %

Shares of NASDAQ LUNA opened at $1.63 on Friday. The business’s 50 day moving average price is $1.90 and its 200 day moving average price is $2.55. The firm has a market cap of $55.35 million, a P/E ratio of -20.38 and a beta of 1.63. Luna Innovations has a 52 week low of $1.43 and a 52 week high of $7.92.

Institutional Investors Weigh In On Luna Innovations

Several hedge funds have recently bought and sold shares of the stock. Malaga Cove Capital LLC acquired a new position in shares of Luna Innovations during the 3rd quarter worth approximately $25,000. Hodges Capital Management Inc. acquired a new position in shares of Luna Innovations during the 2nd quarter worth approximately $33,000. AQR Capital Management LLC acquired a new position in shares of Luna Innovations during the 2nd quarter worth approximately $37,000. Point72 DIFC Ltd acquired a new position in shares of Luna Innovations during the 2nd quarter worth approximately $39,000. Finally, Summit Securities Group LLC acquired a new position in shares of Luna Innovations during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.

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.