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

StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research note issued to investors on Sunday. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Down 5.9 %

LUNA stock opened at $0.80 on Friday. The company’s 50 day simple moving average is $0.87 and its 200-day simple moving average is $1.51. Luna Innovations has a 12 month low of $0.65 and a 12 month high of $4.13.

Institutional Trading of Luna Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. acquired a new stake in shares of Luna Innovations during the 4th quarter worth about $39,000. Founders Financial Alliance LLC acquired a new position in shares of Luna Innovations in the fourth quarter valued at approximately $43,000. XTX Topco Ltd purchased a new position in shares of Luna Innovations during the third quarter valued at approximately $55,000. Raymond James Financial Inc. acquired a new stake in Luna Innovations during the fourth quarter worth approximately $57,000. Finally, Virtu Financial LLC purchased a new stake in Luna Innovations in the 4th quarter worth approximately $78,000. Hedge funds and other institutional investors 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.