Luna Innovations (NASDAQ:LUNA) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Luna Innovations Incorporated (NASDAQ:LUNA) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.86 and traded as low as $0.60. Luna Innovations shares last traded at $0.75, with a volume of 9,567 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on shares of Luna Innovations in a research report on Monday, May 19th. They set a “sell” rating for the company.

Luna Innovations Stock Up 13.6%

The firm’s fifty day simple moving average is $0.52 and its 200-day simple moving average is $0.86.

Institutional Trading of Luna Innovations

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Luna Innovations in the fourth quarter worth approximately $57,000. Virtu Financial LLC bought a new position in Luna Innovations during the fourth quarter valued at $78,000. Squarepoint Ops LLC increased its position in Luna Innovations by 40.3% during the fourth quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock valued at $226,000 after acquiring an additional 29,981 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Luna Innovations in the fourth quarter worth about $39,000. Finally, Needham Investment Management LLC grew its holdings in shares of Luna Innovations by 17.5% in the fourth quarter. Needham Investment Management LLC now owns 1,175,000 shares of the scientific and technical instruments company’s stock worth $2,538,000 after purchasing an additional 175,000 shares during the last quarter. 87.46% of the stock is currently owned by 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.