StockNews.com Begins Coverage on Luna Innovations (NASDAQ:LUNA)

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

Luna Innovations Trading Up 5.9 %

Shares of NASDAQ:LUNA opened at $2.17 on Thursday. The company has a market capitalization of $73.69 million, a PE ratio of -27.13 and a beta of 1.62. Luna Innovations has a 12-month low of $1.43 and a 12-month high of $7.92. The business’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $2.29.

Institutional Trading of Luna Innovations

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Luna Innovations during the 3rd quarter worth approximately $55,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Luna Innovations during the second quarter worth $107,000. Point72 DIFC Ltd acquired a new position in shares of Luna Innovations during the second quarter worth $39,000. GSA Capital Partners LLP purchased a new stake in shares of Luna Innovations during the 3rd quarter valued at $144,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Luna Innovations in the 2nd quarter worth $37,000. 87.46% of the stock is 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.