Luna Innovations (NASDAQ:LUNA) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report sent to investors on Wednesday. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

Shares of NASDAQ:LUNA opened at $0.60 on Wednesday. The stock’s 50-day moving average is $0.71 and its 200 day moving average is $1.29. Luna Innovations has a 1 year low of $0.28 and a 1 year high of $3.89.

Institutional Trading of Luna Innovations

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. purchased a new position in Luna Innovations during the 4th quarter valued at $39,000. Founders Financial Alliance LLC purchased a new stake in shares of Luna Innovations in the 4th quarter worth about $43,000. XTX Topco Ltd bought a new stake in shares of Luna Innovations during the 3rd quarter valued at about $55,000. Raymond James Financial Inc. purchased a new position in shares of Luna Innovations during the fourth quarter valued at about $57,000. Finally, Virtu Financial LLC purchased a new position in shares of Luna Innovations during the fourth quarter valued at about $78,000. 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.