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

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

Luna Innovations Price Performance

LUNA opened at $0.51 on Tuesday. Luna Innovations has a 1 year low of $0.51 and a 1 year high of $3.89. The stock has a fifty day moving average price of $0.78 and a 200 day moving average price of $1.39.

Hedge Funds Weigh In On Luna Innovations

A number of hedge funds have recently added to or reduced their stakes in LUNA. Needham Investment Management LLC lifted its stake in Luna Innovations by 150.0% in the third quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock valued at $2,350,000 after acquiring an additional 600,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Luna Innovations by 71.7% during the 4th quarter. Renaissance Technologies LLC now owns 297,600 shares of the scientific and technical instruments company’s stock valued at $643,000 after purchasing an additional 124,300 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Luna Innovations in the 4th quarter valued at $78,000. Squarepoint Ops LLC boosted its holdings 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 purchasing an additional 29,981 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Luna Innovations during the fourth quarter worth $57,000. 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.