Prudential Financial Inc. Makes New Investment in Luna Innovations Incorporated (NASDAQ:LUNA)

Prudential Financial Inc. bought a new stake in Luna Innovations Incorporated (NASDAQ:LUNA) during the fourth quarter, Holdings Channel.com reports. The firm bought 18,200 shares of the scientific and technical instruments company’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of Luna Innovations in the 3rd quarter worth about $55,000. Virtu Financial LLC bought a new position in Luna Innovations in the 4th quarter worth about $78,000. Founders Financial Alliance LLC bought a new position in Luna Innovations in the 4th quarter worth about $43,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Luna Innovations in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Luna Innovations in a research report on Wednesday. They set a “sell” rating for the company.

Luna Innovations Price Performance

NASDAQ:LUNA opened at $0.60 on Friday. Luna Innovations Incorporated has a 1 year low of $0.28 and a 1 year high of $3.89. The business has a fifty day moving average of $0.71 and a 200-day moving average of $1.29.

Luna Innovations 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.