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

Equities researchers at StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report issued on Monday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Down 8.7 %

NASDAQ LUNA opened at $1.89 on Monday. Luna Innovations has a 52 week low of $1.80 and a 52 week high of $7.92. The firm has a 50 day moving average of $2.36 and a two-hundred day moving average of $2.77. The stock has a market capitalization of $64.18 million, a PE ratio of -23.63 and a beta of 1.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LUNA. Wasatch Advisors LP raised its position in shares of Luna Innovations by 75.0% during the 4th quarter. Wasatch Advisors LP now owns 1,260,077 shares of the scientific and technical instruments company’s stock worth $8,380,000 after acquiring an additional 539,933 shares in the last quarter. Avenir Corp raised its holdings in Luna Innovations by 35.3% during the fourth quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock worth $1,471,000 after purchasing an additional 57,700 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Luna Innovations by 672.6% during the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock worth $223,000 after purchasing an additional 60,547 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Luna Innovations by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock worth $5,919,000 after buying an additional 16,773 shares during the last quarter. Finally, Keeley Teton Advisors LLC acquired a new position in shares of Luna Innovations in the 1st quarter valued at $64,000. 87.46% of the stock is owned by institutional investors and hedge funds.

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.