Luna Innovations (NASDAQ:LUNA) Receives New Coverage from Analysts at StockNews.com

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

Luna Innovations Stock Down 1.9 %

Shares of Luna Innovations stock opened at $2.09 on Friday. The firm has a market cap of $70.97 million, a price-to-earnings ratio of -26.13 and a beta of 1.58. Luna Innovations has a 52-week low of $1.91 and a 52-week high of $7.92. The company’s 50-day simple moving average is $2.58 and its 200-day simple moving average is $3.10.

Hedge Funds Weigh In On Luna Innovations

A number of large investors have recently modified their holdings of LUNA. Hodges Capital Management Inc. acquired a new position in Luna Innovations during the second quarter worth $33,000. AQR Capital Management LLC purchased a new stake in shares of Luna Innovations during the 2nd quarter worth $37,000. Point72 DIFC Ltd acquired a new position in shares of Luna Innovations during the 2nd quarter worth $39,000. Summit Securities Group LLC purchased a new position in shares of Luna Innovations in the 2nd quarter valued at about $45,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Luna Innovations in the second quarter valued at about $48,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

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.