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

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

Luna Innovations Stock Performance

Shares of NASDAQ:LUNA opened at $0.71 on Monday. The business has a fifty day moving average price of $0.84 and a 200-day moving average price of $1.45. Luna Innovations has a 1-year low of $0.65 and a 1-year high of $3.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LUNA. Needham Investment Management LLC raised its holdings in Luna Innovations by 17.5% in the 4th quarter. Needham Investment Management LLC now owns 1,175,000 shares of the scientific and technical instruments company’s stock worth $2,538,000 after acquiring an additional 175,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Luna Innovations by 71.7% in the 4th quarter. Renaissance Technologies LLC now owns 297,600 shares of the scientific and technical instruments company’s stock worth $643,000 after purchasing an additional 124,300 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of 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 purchasing an additional 29,981 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Luna Innovations during the third quarter valued at $144,000. Finally, Virtu Financial LLC purchased a new stake in shares of Luna Innovations during the fourth quarter valued at $78,000. 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.