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

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

Luna Innovations Stock Performance

Shares of NASDAQ:LUNA opened at $2.14 on Friday. The stock’s 50-day simple moving average is $2.49 and its two-hundred day simple moving average is $2.92. Luna Innovations has a 52-week low of $1.91 and a 52-week high of $7.92. The stock has a market capitalization of $72.67 million, a price-to-earnings ratio of -26.75 and a beta of 1.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP raised its position in Luna Innovations by 60.6% in the 1st quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after purchasing an additional 763,165 shares during the period. Vanguard Group Inc. raised its holdings in shares of Luna Innovations by 0.9% in the first 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 period. Janney Montgomery Scott LLC lifted its stake in shares of Luna Innovations by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 244,681 shares of the scientific and technical instruments company’s stock worth $1,627,000 after acquiring an additional 10,300 shares during the last quarter. Avenir Corp boosted its holdings in Luna Innovations by 35.3% during the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock valued at $1,471,000 after acquiring an additional 57,700 shares during the period. Finally, Marathon Capital Management grew its position in Luna Innovations by 9.8% in the 2nd quarter. Marathon Capital Management now owns 167,500 shares of the scientific and technical instruments company’s stock valued at $536,000 after acquiring an additional 15,000 shares during the last quarter. 87.46% of the stock is currently owned by 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.