StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA – Free Report) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.
Luna Innovations Price Performance
Luna Innovations stock traded down $0.01 during mid-day trading on Friday, reaching $1.61. The stock had a trading volume of 90,338 shares, compared to its average volume of 220,956. Luna Innovations has a one year low of $1.43 and a one year high of $7.92. The company has a 50-day moving average price of $1.95 and a two-hundred day moving average price of $2.57. The company has a market capitalization of $54.50 million, a price-to-earnings ratio of -20.06 and a beta of 1.63.
Institutional Investors Weigh In On Luna Innovations
A number of institutional investors have recently made changes to their positions in the company. Hodges Capital Management Inc. purchased a new position in Luna Innovations in the 2nd quarter worth approximately $33,000. Malaga Cove Capital LLC purchased a new position in shares of Luna Innovations in the third quarter worth $25,000. AQR Capital Management LLC bought a new position in shares of Luna Innovations during the second quarter valued at $37,000. Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations during the second quarter valued at $39,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Luna Innovations during the second quarter valued at $45,000. Hedge funds and other 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.
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