Luna Innovations (NASDAQ:LUNA) Now Covered by StockNews.com

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report published on Thursday. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Down 4.0 %

Shares of NASDAQ LUNA opened at $0.84 on Thursday. Luna Innovations has a fifty-two week low of $0.70 and a fifty-two week high of $7.40. The business has a fifty day moving average price of $1.23 and a two-hundred day moving average price of $1.75.

Institutional Investors Weigh In On Luna Innovations

Large investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Luna Innovations during the 3rd quarter worth approximately $55,000. GSA Capital Partners LLP bought a new stake in shares of Luna Innovations during the 3rd quarter worth approximately $144,000. Pinnacle Associates Ltd. lifted its holdings in shares of Luna Innovations by 402.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock worth $365,000 after acquiring an additional 124,543 shares during the period. Needham Investment Management LLC lifted its holdings in shares of Luna Innovations by 150.0% during 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 during the period. Finally, Royce & Associates LP lifted its stake in Luna Innovations by 4.0% during 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 last quarter. 87.46% of the stock is currently owned by institutional investors and hedge funds.

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.