Founders Financial Alliance LLC Makes New Investment in Luna Innovations Incorporated (NASDAQ:LUNA)

Founders Financial Alliance LLC bought a new stake in Luna Innovations Incorporated (NASDAQ:LUNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,762 shares of the scientific and technical instruments company’s stock, valued at approximately $43,000. Founders Financial Alliance LLC owned 0.06% of Luna Innovations as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of LUNA. XTX Topco Ltd bought a new stake in Luna Innovations in the 3rd quarter valued at about $55,000. Raymond James Financial Inc. acquired a new stake in shares of Luna Innovations in the fourth quarter valued at approximately $57,000. GSA Capital Partners LLP bought a new stake in shares of Luna Innovations in the third quarter valued at approximately $144,000. Needham Investment Management LLC grew its position in Luna Innovations by 150.0% during 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 in the last quarter. Finally, Royce & Associates LP increased its position in shares of Luna Innovations by 4.0% in the third quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock worth $6,573,000 after purchasing an additional 107,566 shares during the period. 87.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Luna Innovations Stock Up 1.4 %

NASDAQ:LUNA opened at $0.74 on Wednesday. Luna Innovations Incorporated has a twelve month low of $0.65 and a twelve month high of $6.45. The stock’s 50-day simple moving average is $0.96 and its 200 day simple moving average is $1.56.

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.