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

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

Luna Innovations Price Performance

Shares of Luna Innovations stock opened at $0.53 on Monday. Luna Innovations has a 52 week low of $0.22 and a 52 week high of $3.89. The business has a 50 day moving average price of $0.49 and a 200-day moving average price of $1.02.

Institutional Investors Weigh In On Luna Innovations

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. purchased a new position in Luna Innovations during the 4th quarter worth $39,000. Founders Financial Alliance LLC bought a new position in shares of Luna Innovations during the fourth quarter valued at about $43,000. Raymond James Financial Inc. purchased a new position in Luna Innovations during the fourth quarter worth about $57,000. Squarepoint Ops LLC grew its position in Luna Innovations by 40.3% in the 4th quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock worth $226,000 after purchasing an additional 29,981 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Luna Innovations in the 4th quarter worth about $78,000. 87.46% of the stock is owned by hedge funds and other 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.