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

Investment analysts at StockNews.com initiated coverage on the stock Luna Innovations (NASDAQ:LUNA – Get a Free Report) in a research report issued on Sunday. The firm set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations stock rose 1.4%

NASDAQ:LUNA opened at $2.21 on Friday. Luna Innovations has a 12 month low of $1.91 and a 12 month high of $7.92. The company has a fifty day moving average of $2.45 and a 200 day moving average of $2.88. The firm has a market cap of $75.05 million, a P/E ratio of -27.63 and a beta of 1.58.

Luna Innovations Institutional Trading

Large investors have recently made changes to their positions in the company. Wasatch Advisors LP raised its stake in Luna Innovations by 75.0% in the fourth quarter. Wasatch Advisors LP now owns 1,260,077 shares of the scientific and technical instruments company’s stock worth $8,380,000 after acquiring an additional 539,933 shares during the period. Vanguard Group Inc. raised its holdings in Luna Innovations by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock worth $5,919,000 after purchasing an additional 16,773 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Luna Innovations by 672.6% in the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company’s stock valued at $223,000 after purchasing an additional 60,547 shares in the last quarter. Avenir Corp raised its position in shares of Luna Innovations by 35.3% in the fourth quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock worth $1,471,000 after acquiring an additional 57,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Luna Innovations in the second quarter valued at about $107,000. 87.46% of the shares are currently held by institutional investors and hedge funds.

About Luna Innovations

(Get a free report)

Luna Innovations Incorporated provides fiber optic test, measurement and control products worldwide. The company provides test and measurement equipment for fiber optic components and subassemblies; polarization control products, including components, modules and instruments for measuring, managing and controlling polarization and group delay in optical fiber networks; tunable lasers; and single-frequency lasers.

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