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

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

Luna Innovations Stock Performance

Shares of Luna Innovations stock opened at $2.17 on Thursday. The company has a market capitalization of $73.69 million, a P/E ratio of -27.13 and a beta of 1.62. The company has a fifty day moving average of $1.72 and a 200 day moving average of $2.28. Luna Innovations has a fifty-two week low of $1.43 and a fifty-two week high of $7.92.

Hedge Funds Weigh In On Luna Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Malaga Cove Capital LLC purchased a new position in Luna Innovations during the 3rd quarter valued at approximately $25,000. Hodges Capital Management Inc. purchased a new position in shares of Luna Innovations in the second quarter valued at $33,000. AQR Capital Management LLC bought a new stake in Luna Innovations in the second quarter worth $37,000. Point72 DIFC Ltd purchased a new stake in Luna Innovations during the second quarter valued at $39,000. Finally, Cubist Systematic Strategies LLC bought a new position in Luna Innovations during the second quarter valued at $48,000. Institutional investors own 87.46% of the company’s stock.

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.