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

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

Luna Innovations Stock Performance

LUNA opened at $2.05 on Friday. The business’s fifty day moving average is $1.75 and its two-hundred day moving average is $2.24. The company has a market cap of $69.62 million, a price-to-earnings ratio of -25.63 and a beta of 1.62. Luna Innovations has a one year low of $1.43 and a one year high of $7.92.

Institutional Trading of Luna Innovations

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Luna Innovations during the third quarter worth $55,000. Allspring Global Investments Holdings LLC purchased a new stake in Luna Innovations during the 2nd quarter worth about $107,000. Point72 DIFC Ltd acquired a new position in Luna Innovations in the 2nd quarter valued at about $39,000. GSA Capital Partners LLP purchased a new position in Luna Innovations in the 3rd quarter valued at about $144,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Luna Innovations during the 2nd quarter worth about $37,000. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

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.