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

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

Luna Innovations Stock Performance

Luna Innovations stock remained flat at $0.35 during trading hours on Wednesday. 2,250 shares of the company’s stock traded hands, compared to its average volume of 321,816. Luna Innovations has a 52-week low of $0.28 and a 52-week high of $3.89. The firm’s fifty day moving average price is $0.72 and its 200-day moving average price is $1.31.

Institutional Investors Weigh In On Luna Innovations

A number of institutional investors have recently added to or reduced their stakes in LUNA. Prudential Financial Inc. acquired a new stake in shares of Luna Innovations in the fourth quarter valued at $39,000. Founders Financial Alliance LLC acquired a new stake in Luna Innovations in the 4th quarter valued at about $43,000. XTX Topco Ltd bought a new position in shares of Luna Innovations during the 3rd quarter valued at about $55,000. Raymond James Financial Inc. acquired a new position in shares of Luna Innovations in the 4th quarter worth approximately $57,000. Finally, Virtu Financial LLC acquired a new position in shares of Luna Innovations in the 4th quarter worth approximately $78,000. 87.46% of the stock is currently owned by institutional investors and hedge funds.

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.