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

Investment analysts at StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Down 2.4 %

Shares of NASDAQ LUNA opened at $0.40 on Friday. Luna Innovations has a fifty-two week low of $0.22 and a fifty-two week high of $3.89. The business’s 50 day moving average price is $0.57 and its 200-day moving average price is $1.13.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of Luna Innovations during the fourth quarter worth approximately $78,000. Prudential Financial Inc. bought a new position in shares of Luna Innovations during the 4th quarter worth $39,000. Raymond James Financial Inc. purchased a new position in shares of Luna Innovations during the fourth quarter valued at $57,000. Founders Financial Alliance LLC bought a new stake in shares of Luna Innovations in the fourth quarter valued at about $43,000. Finally, Squarepoint Ops LLC lifted its stake in Luna Innovations by 40.3% in the fourth quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock worth $226,000 after acquiring an additional 29,981 shares during the period. Hedge funds and other institutional investors 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.