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

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

Luna Innovations Trading Down 31.0 %

Shares of Luna Innovations stock opened at $0.40 on Thursday. Luna Innovations has a twelve month low of $0.28 and a twelve month high of $3.89. The business’s 50 day simple moving average is $0.69 and its 200-day simple moving average is $1.27.

Hedge Funds Weigh In On Luna Innovations

Several hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. bought a new stake in Luna Innovations in the 4th quarter valued at about $39,000. Founders Financial Alliance LLC bought a new stake in shares of Luna Innovations during the fourth quarter valued at approximately $43,000. XTX Topco Ltd acquired a new position in shares of Luna Innovations during the third quarter worth approximately $55,000. Raymond James Financial Inc. acquired a new position in shares of Luna Innovations during the fourth quarter worth approximately $57,000. Finally, Squarepoint Ops LLC grew its holdings 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 buying an additional 29,981 shares in the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.

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.