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

StockNews.com started coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report sent to investors on Thursday. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

NASDAQ:LUNA opened at $0.84 on Thursday. Luna Innovations has a 12-month low of $0.70 and a 12-month high of $7.40. The stock’s 50 day moving average price is $1.23 and its two-hundred day moving average price is $1.75.

Hedge Funds Weigh In On Luna Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in shares of Luna Innovations in the third quarter valued at about $55,000. GSA Capital Partners LLP acquired a new position in Luna Innovations in the 3rd quarter valued at about $144,000. Pinnacle Associates Ltd. raised its holdings in Luna Innovations by 402.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $365,000 after acquiring an additional 124,543 shares during the period. Needham Investment Management LLC lifted its position in Luna Innovations by 150.0% during the third 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 acquiring an additional 600,000 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Luna Innovations by 4.0% during 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. 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.