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

StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research note issued to investors on Saturday morning. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Down 4.6 %

Shares of LUNA stock opened at $1.04 on Friday. The stock has a 50-day moving average of $1.67 and a 200-day moving average of $2.12. The stock has a market cap of $35.32 million, a price-to-earnings ratio of -13.00 and a beta of 1.56. Luna Innovations has a 1-year low of $0.70 and a 1-year high of $7.92.

Institutional Investors Weigh In On Luna Innovations

A number of institutional investors have recently modified their holdings of LUNA. XTX Topco Ltd bought a new stake in shares of Luna Innovations in the 3rd quarter valued at $55,000. Point72 DIFC Ltd bought a new stake in Luna Innovations in the second quarter valued at $39,000. GSA Capital Partners LLP acquired a new position in shares of Luna Innovations during the third quarter valued at about $144,000. AQR Capital Management LLC bought a new position in shares of Luna Innovations during the 2nd quarter worth about $37,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Luna Innovations in the 2nd quarter valued at about $60,000. 87.46% of the stock is owned by 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.