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

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

Luna Innovations Stock Down 2.4 %

Shares of NASDAQ:LUNA opened at $0.40 on Friday. Luna Innovations has a 1 year low of $0.22 and a 1 year high of $3.89. The business’s 50 day moving average price is $0.56 and its 200-day moving average price is $1.12.

Hedge Funds Weigh In On Luna Innovations

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its holdings in shares of 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 worth $226,000 after purchasing an additional 29,981 shares during the last quarter. Needham Investment Management LLC grew 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 valued at $2,538,000 after buying an additional 175,000 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Luna Innovations in the 4th quarter worth $57,000. Renaissance Technologies LLC increased its stake 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 acquiring an additional 124,300 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Luna Innovations during the 4th quarter valued at about $39,000. 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.