Luna Innovations (NASDAQ:LUNA) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Luna Innovations Incorporated (NASDAQ:LUNA) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.84 and traded as low as $0.84. Luna Innovations shares last traded at $0.85, with a volume of 8,525 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Luna Innovations in a report on Wednesday. They set a “sell” rating for the company.

Luna Innovations Trading Down 4.5 %

The firm’s fifty day simple moving average is $1.36 and its 200 day simple moving average is $1.84.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royce & Associates LP lifted its holdings in shares of Luna Innovations by 4.0% in the 3rd quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock valued at $6,573,000 after acquiring an additional 107,566 shares during the last quarter. Needham Investment Management LLC raised its position in Luna Innovations by 150.0% in the 3rd quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock worth $2,350,000 after purchasing an additional 600,000 shares during the period. Pinnacle Associates Ltd. raised its position in 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 purchasing an additional 124,543 shares during the period. GSA Capital Partners LLP purchased a new stake in Luna Innovations in the 3rd quarter worth about $144,000. Finally, Virtu Financial LLC purchased a new stake in Luna Innovations in the 4th quarter worth about $78,000. 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.