Luna Innovations (NASDAQ:LUNA) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began 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 Stock Performance

LUNA stock opened at $1.81 on Wednesday. The business’s 50-day moving average is $2.12 and its two-hundred day moving average is $2.65. The company has a market cap of $61.47 million, a price-to-earnings ratio of -22.63 and a beta of 1.58. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92.

Institutional Trading of Luna Innovations

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP increased its position in Luna Innovations by 60.6% in the first quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after buying an additional 763,165 shares in the last quarter. Vanguard Group Inc. increased its position in 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 in the last quarter. Marathon Capital Management increased its position in Luna Innovations by 9.8% in the second quarter. Marathon Capital Management now owns 167,500 shares of the scientific and technical instruments company’s stock worth $536,000 after buying an additional 15,000 shares in the last quarter. Pinnacle Associates Ltd. increased its position in Luna Innovations by 402.5% in the third quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock worth $365,000 after buying an additional 124,543 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in Luna Innovations by 353.7% in the second quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock worth $497,000 after buying an additional 121,154 shares in the last quarter. 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.