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

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

Luna Innovations Stock Up 5.3 %

Shares of LUNA opened at $1.78 on Wednesday. The stock has a market cap of $60.45 million, a P/E ratio of -22.25 and a beta of 1.58. The business’s fifty day moving average is $2.14 and its 200 day moving average is $2.65. Luna Innovations has a 12-month low of $1.43 and a 12-month high of $7.92.

Institutional Investors Weigh In On Luna Innovations

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hodges Capital Management Inc. bought a new stake in Luna Innovations during the 2nd quarter worth approximately $33,000. AQR Capital Management LLC purchased a new position in shares of Luna Innovations during the second quarter valued at approximately $37,000. Point72 DIFC Ltd purchased a new position in shares of Luna Innovations during the second quarter valued at approximately $39,000. Summit Securities Group LLC purchased a new position in shares of Luna Innovations during the second quarter valued at approximately $45,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Luna Innovations during the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

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.