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

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

Luna Innovations Price Performance

Shares of LUNA stock opened at $0.85 on Wednesday. Luna Innovations has a 12-month low of $0.70 and a 12-month high of $7.59. The business’s fifty day simple moving average is $1.34 and its 200-day simple moving average is $1.83.

Institutional Investors Weigh In On Luna Innovations

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Luna Innovations during the third quarter valued at about $55,000. GSA Capital Partners LLP acquired a new position in Luna Innovations during the 3rd quarter valued at approximately $144,000. AQR Capital Management LLC purchased a new position in shares of Luna Innovations in the second quarter worth $37,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Luna Innovations during the second quarter worth $48,000. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Luna Innovations by 402.5% during the third quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock valued at $365,000 after buying an additional 124,543 shares during the last quarter. Institutional investors and hedge funds 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.