StockNews.com Begins Coverage on Luna Innovations (NASDAQ:LUNA)

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

Luna Innovations Trading Down 3.6 %

Luna Innovations stock opened at $2.13 on Friday. The stock has a 50 day moving average of $2.51 and a two-hundred day moving average of $2.95. Luna Innovations has a twelve month low of $1.91 and a twelve month high of $7.92. The stock has a market capitalization of $72.33 million, a price-to-earnings ratio of -26.63 and a beta of 1.58.

Hedge Funds Weigh In On Luna Innovations

Institutional investors have recently bought and sold shares of the company. Hodges Capital Management Inc. purchased a new stake in shares of Luna Innovations in the second quarter valued at about $33,000. AQR Capital Management LLC acquired a new position in Luna Innovations during the 2nd quarter worth approximately $37,000. Point72 DIFC Ltd purchased a new position in shares of Luna Innovations during the 2nd quarter worth approximately $39,000. Summit Securities Group LLC acquired a new stake in shares of Luna Innovations in the 2nd quarter valued at approximately $45,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Luna Innovations in the second quarter valued at approximately $48,000. 87.46% of the stock is owned by institutional investors and hedge funds.

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.