Luna Innovations (NASDAQ:LUNA) Earns Sell Rating from Analysts at StockNews.com

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

Luna Innovations Price Performance

Shares of Luna Innovations stock opened at $0.73 on Friday. Luna Innovations has a fifty-two week low of $0.65 and a fifty-two week high of $6.67. The business’s fifty day moving average is $1.01 and its two-hundred day moving average is $1.60.

Institutional Trading of Luna Innovations

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. purchased a new position in shares of Luna Innovations during the 4th quarter worth about $39,000. Founders Financial Alliance LLC purchased a new position in Luna Innovations during the fourth quarter worth approximately $43,000. XTX Topco Ltd purchased a new position in Luna Innovations during the third quarter worth approximately $55,000. Raymond James Financial Inc. acquired a new position in shares of Luna Innovations in the 4th quarter valued at $57,000. Finally, Virtu Financial LLC purchased a new stake in shares of Luna Innovations during the 4th quarter valued at $78,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.

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.