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

Analysts at StockNews.com started coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report issued on Monday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

Shares of LUNA opened at $0.70 on Monday. The business has a 50-day simple moving average of $0.85 and a two-hundred day simple moving average of $1.47. Luna Innovations has a 52 week low of $0.65 and a 52 week high of $3.95.

Institutional Trading of Luna Innovations

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in shares of Luna Innovations during the third quarter worth about $55,000. GSA Capital Partners LLP purchased a new stake in shares of Luna Innovations during the third quarter worth about $144,000. Needham Investment Management LLC grew its position in shares of Luna Innovations by 150.0% during the third 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 in the last quarter. Founders Financial Alliance LLC purchased a new stake in shares of Luna Innovations during the fourth quarter worth about $43,000. Finally, Squarepoint Ops LLC grew its position in shares of Luna Innovations by 40.3% during the fourth quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock worth $226,000 after purchasing an additional 29,981 shares in the last quarter. Hedge funds and other 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.