Luna Innovations (NASDAQ:LUNA) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report released on Monday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Up 1.4 %

NASDAQ:LUNA opened at $0.71 on Monday. The company has a 50 day simple moving average of $0.84 and a two-hundred day simple moving average of $1.45. Luna Innovations has a 12 month low of $0.65 and a 12 month high of $3.89.

Institutional Trading of Luna Innovations

A number of hedge funds have recently bought and sold shares of LUNA. GSA Capital Partners LLP bought a new stake in shares of Luna Innovations during the 3rd quarter valued at about $144,000. Needham Investment Management LLC boosted its holdings in shares of Luna Innovations by 150.0% in the third 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 buying an additional 600,000 shares during the last quarter. XTX Topco Ltd bought a new stake in Luna Innovations during the third quarter valued at approximately $55,000. Raymond James Financial Inc. purchased a new stake in Luna Innovations during the fourth quarter valued at approximately $57,000. Finally, Founders Financial Alliance LLC bought a new position in Luna Innovations in the fourth quarter worth approximately $43,000. Hedge funds and other 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.