StockNews.com Begins Coverage on Luna Innovations (NASDAQ:LUNA)

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

Luna Innovations Trading Down 4.2 %

LUNA stock opened at $0.69 on Friday. Luna Innovations has a 12-month low of $0.65 and a 12-month high of $4.77. The company has a 50 day moving average of $0.88 and a two-hundred day moving average of $1.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LUNA. Prudential Financial Inc. bought a new position in shares of Luna Innovations during the 4th quarter valued at $39,000. Founders Financial Alliance LLC bought a new position in shares of Luna Innovations during the 4th quarter valued at $43,000. XTX Topco Ltd bought a new position in shares of Luna Innovations during the 3rd quarter valued at $55,000. Raymond James Financial Inc. bought a new position in shares of Luna Innovations during the 4th quarter valued at $57,000. Finally, Virtu Financial LLC bought a new position in shares of Luna Innovations during the 4th quarter valued at $78,000. 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.