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

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

Luna Innovations Price Performance

Shares of NASDAQ LUNA opened at $1.82 on Friday. The business has a fifty day moving average price of $1.83 and a 200 day moving average price of $2.51. Luna Innovations has a 1-year low of $1.43 and a 1-year high of $7.92. The stock has a market capitalization of $61.81 million, a P/E ratio of -22.75 and a beta of 1.63.

Institutional Trading of Luna Innovations

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Luna Innovations by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock worth $5,919,000 after purchasing an additional 16,773 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Luna Innovations during the second quarter worth $107,000. Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations during the second quarter valued at $39,000. AQR Capital Management LLC acquired a new position in shares of Luna Innovations in the 2nd quarter valued at $37,000. Finally, Summit Securities Group LLC purchased a new position in Luna Innovations in the 2nd quarter worth $45,000. 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.