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

StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research note released on Tuesday. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Down 3.8 %

LUNA stock opened at $0.51 on Tuesday. The firm has a 50-day moving average of $0.78 and a two-hundred day moving average of $1.39. Luna Innovations has a one year low of $0.51 and a one year high of $3.89.

Hedge Funds Weigh In On Luna Innovations

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of Luna Innovations in the third quarter valued at $55,000. Virtu Financial LLC acquired a new position in Luna Innovations during the fourth quarter valued at $78,000. Needham Investment Management LLC lifted its stake in Luna Innovations by 150.0% in the 3rd 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 acquiring an additional 600,000 shares in the last quarter. Founders Financial Alliance LLC acquired a new stake in Luna Innovations during the 4th quarter worth about $43,000. Finally, Squarepoint Ops LLC grew its stake in Luna Innovations by 40.3% during the 4th quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock valued at $226,000 after acquiring an additional 29,981 shares in the last quarter. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

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.