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

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

Luna Innovations Price Performance

Shares of NASDAQ LUNA opened at $0.35 on Wednesday. The business’s 50-day simple moving average is $0.74 and its 200-day simple moving average is $1.33. Luna Innovations has a 52 week low of $0.28 and a 52 week high of $3.89.

Institutional Trading of Luna Innovations

Institutional investors and hedge funds have recently modified their holdings of the company. Needham Investment Management LLC grew its stake in Luna Innovations by 17.5% in the 4th quarter. Needham Investment Management LLC now owns 1,175,000 shares of the scientific and technical instruments company’s stock valued at $2,538,000 after buying an additional 175,000 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Luna Innovations by 71.7% in the fourth quarter. Renaissance Technologies LLC now owns 297,600 shares of the scientific and technical instruments company’s stock valued at $643,000 after purchasing an additional 124,300 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Luna Innovations in the fourth quarter valued at about $78,000. Squarepoint Ops LLC increased its stake in shares of Luna Innovations by 40.3% in 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 during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Luna Innovations during the 4th quarter worth about $57,000. 87.46% of the stock is currently owned by institutional investors and hedge funds.

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.