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

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

Luna Innovations Price Performance

Shares of LUNA stock opened at $0.40 on Monday. Luna Innovations has a 12 month low of $0.22 and a 12 month high of $3.89. The company’s fifty day simple moving average is $0.49 and its 200-day simple moving average is $1.02.

Hedge Funds Weigh In On Luna Innovations

A number of institutional investors have recently added to or reduced their stakes in LUNA. Prudential Financial Inc. bought a new position in shares of Luna Innovations in the 4th quarter valued at about $39,000. Founders Financial Alliance LLC acquired a new stake in Luna Innovations in the 4th quarter valued at about $43,000. Raymond James Financial Inc. bought a new position in Luna Innovations during the fourth quarter worth about $57,000. Virtu Financial LLC acquired a new position in Luna Innovations during the fourth quarter worth approximately $78,000. Finally, Squarepoint Ops LLC raised its stake 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 valued at $226,000 after buying an additional 29,981 shares during the period. 87.46% of the stock is currently owned by institutional investors and hedge funds.

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.