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

Investment analysts at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a note issued to investors on Saturday. The firm set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Down 0.4 %

LUNA stock opened at $0.73 on Friday. The stock has a 50-day simple moving average of $1.01 and a 200-day simple moving average of $1.60. Luna Innovations has a 1 year low of $0.65 and a 1 year high of $6.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC boosted its position in Luna Innovations by 40.3% in the 4th quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock valued at $226,000 after buying an additional 29,981 shares during the last quarter. Needham Investment Management LLC boosted its holdings in Luna Innovations by 17.5% in the fourth 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 purchasing an additional 175,000 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Luna Innovations during the 4th quarter worth approximately $57,000. Renaissance Technologies LLC raised its position in shares of Luna Innovations by 71.7% in the 4th 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 in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Luna Innovations during the 4th quarter valued at approximately $39,000. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

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.