Luna Innovations (NASDAQ:LUNA) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Luna Innovations Incorporated (NASDAQ:LUNA) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.55 and traded as low as $1.58. Luna Innovations shares last traded at $1.63, with a volume of 129,536 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Luna Innovations in a research report on Saturday. They set a “sell” rating for the company.

Luna Innovations Trading Up 3.8 %

The company’s fifty day moving average price is $1.88 and its 200-day moving average price is $2.55.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. bought a new position in shares of Luna Innovations during the second quarter valued at $33,000. Malaga Cove Capital LLC bought a new stake in Luna Innovations during the 3rd quarter valued at about $25,000. AQR Capital Management LLC purchased a new position in Luna Innovations in the second quarter worth about $37,000. Point72 DIFC Ltd purchased a new position in Luna Innovations in the second quarter worth about $39,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Luna Innovations during the second quarter valued at approximately $45,000. 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.