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

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

Luna Innovations Price Performance

LUNA stock opened at $1.66 on Thursday. The business’s fifty day moving average price is $2.03 and its two-hundred day moving average price is $2.60. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92. The stock has a market capitalization of $56.37 million, a price-to-earnings ratio of -20.75 and a beta of 1.58.

Institutional Investors Weigh In On Luna Innovations

Several hedge funds and other institutional investors have recently made changes to their positions in LUNA. Vanguard Group Inc. grew its holdings in shares of Luna Innovations by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock worth $5,919,000 after purchasing an additional 16,773 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Luna Innovations by 672.6% in the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after purchasing an additional 60,547 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Luna Innovations in the second quarter valued at $107,000. Point72 DIFC Ltd bought a new position in Luna Innovations during the 2nd quarter worth $39,000. Finally, AQR Capital Management LLC acquired a new position in Luna Innovations during the 2nd quarter worth about $37,000. 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.