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 report issued on Sunday. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Up 13.4 %

NASDAQ:LUNA opened at $1.86 on Friday. The business’s 50 day moving average is $1.84 and its two-hundred day moving average is $2.52. Luna Innovations has a 52 week low of $1.43 and a 52 week high of $7.92. The company has a market cap of $63.17 million, a PE ratio of -23.25 and a beta of 1.63.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Needham Investment Management LLC lifted its holdings in shares of Luna Innovations by 150.0% in the 3rd quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock worth $2,350,000 after purchasing an additional 600,000 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Luna Innovations by 402.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock worth $365,000 after purchasing an additional 124,543 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Luna Innovations by 353.7% in the 2nd quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock worth $497,000 after purchasing an additional 121,154 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Luna Innovations by 4.0% in the 3rd quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock worth $6,573,000 after purchasing an additional 107,566 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Luna Innovations in the 3rd quarter worth about $144,000. 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.