Luna Innovations (NASDAQ:LUNA) Earns Sell Rating from Analysts at StockNews.com

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

Luna Innovations Stock Up 7.1 %

NASDAQ LUNA opened at $1.66 on Thursday. The stock has a market cap of $56.37 million, a PE ratio of -20.75 and a beta of 1.63. The business has a 50 day moving average price of $2.03 and a two-hundred day moving average price of $2.60. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92.

Institutional Investors Weigh In On Luna Innovations

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUNA. Malaga Cove Capital LLC acquired a new stake in shares of Luna Innovations during the third quarter valued at about $25,000. Hodges Capital Management Inc. acquired a new stake in Luna Innovations during the 2nd quarter valued at approximately $33,000. AQR Capital Management LLC acquired a new stake in Luna Innovations during the 2nd quarter valued at approximately $37,000. Point72 DIFC Ltd purchased a new stake in Luna Innovations during the 2nd quarter worth approximately $39,000. Finally, Summit Securities Group LLC acquired a new position in shares of Luna Innovations in the 2nd quarter valued at approximately $45,000. 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.