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

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

Luna Innovations Price Performance

Luna Innovations stock opened at $0.90 on Thursday. The firm has a 50-day moving average price of $1.21 and a two-hundred day moving average price of $1.74. Luna Innovations has a 52-week low of $0.70 and a 52-week high of $7.29.

Hedge Funds Weigh In On Luna Innovations

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUNA. Malaga Cove Capital LLC bought a new stake in Luna Innovations during the 3rd quarter valued at $25,000. Prudential Financial Inc. bought a new stake in shares of Luna Innovations during the fourth quarter valued at about $39,000. Founders Financial Alliance LLC bought a new position in Luna Innovations in the 4th quarter valued at about $43,000. XTX Topco Ltd acquired a new position in Luna Innovations during the 3rd quarter valued at about $55,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Luna Innovations during the 4th quarter worth about $57,000. 87.46% of the stock is owned by 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.