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

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report published on Monday morning. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Down 10.5 %

Luna Innovations stock opened at $0.85 on Monday. Luna Innovations has a one year low of $0.70 and a one year high of $7.92. The business’s fifty day moving average is $1.54 and its 200 day moving average is $1.97.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in Luna Innovations in the 3rd quarter worth approximately $55,000. Needham Investment Management LLC boosted its stake in shares of Luna Innovations by 150.0% in the 3rd quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock worth $2,350,000 after buying an additional 600,000 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Luna Innovations by 4.0% in the third quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock worth $6,573,000 after acquiring an additional 107,566 shares during the period. GSA Capital Partners LLP purchased a new stake in Luna Innovations during the third quarter valued at $144,000. Finally, Malaga Cove Capital LLC bought a new position in Luna Innovations in the third quarter valued at about $25,000. 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.