StockNews.com Begins Coverage on Luna Innovations (NASDAQ:LUNA)

Investment analysts at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report issued on Saturday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Price Performance

NASDAQ LUNA opened at $0.40 on Friday. Luna Innovations has a 12 month low of $0.22 and a 12 month high of $3.89. The business has a fifty day simple moving average of $0.57 and a 200 day simple moving average of $1.13.

Hedge Funds Weigh In On Luna Innovations

Hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. bought a new stake in Luna Innovations during the fourth quarter worth $39,000. Founders Financial Alliance LLC purchased a new stake in Luna Innovations during the fourth quarter worth about $43,000. Raymond James Financial Inc. purchased a new stake in Luna Innovations during the fourth quarter worth about $57,000. Squarepoint Ops LLC raised its position in Luna Innovations by 40.3% in the fourth quarter. Squarepoint Ops LLC now owns 104,453 shares of the scientific and technical instruments company’s stock worth $226,000 after acquiring an additional 29,981 shares during the period. Finally, Virtu Financial LLC purchased a new position in Luna Innovations in 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.