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

StockNews.com started coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report released on Wednesday morning. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Up 1.7 %

Shares of Luna Innovations stock opened at $1.81 on Wednesday. The company has a fifty day simple moving average of $2.11 and a 200-day simple moving average of $2.64. Luna Innovations has a 12-month low of $1.43 and a 12-month high of $7.92. The stock has a market cap of $61.47 million, a price-to-earnings ratio of -22.63 and a beta of 1.58.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LUNA. Hodges Capital Management Inc. acquired a new position in shares of Luna Innovations in the 2nd quarter valued at $33,000. AQR Capital Management LLC acquired a new position in shares of Luna Innovations in the 2nd quarter valued at $37,000. Point72 DIFC Ltd acquired a new position in shares of Luna Innovations in the 2nd quarter valued at $39,000. Summit Securities Group LLC acquired a new position in shares of Luna Innovations in the 2nd quarter valued at $45,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Luna Innovations during the 2nd quarter worth $48,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

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.