Luna Innovations (NASDAQ:LUNA) Receives New Coverage from Analysts at StockNews.com

by · The Markets Daily

StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA – Free Report) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Up 8.4 %

LUNA opened at $1.94 on Tuesday. Luna Innovations has a twelve month low of $1.43 and a twelve month high of $7.92. The company has a 50-day simple moving average of $2.18 and a 200 day simple moving average of $2.68. The stock has a market capitalization of $65.88 million, a price-to-earnings ratio of -24.25 and a beta of 1.58.

Institutional Investors Weigh In On Luna Innovations

Several institutional investors and hedge funds have recently bought and sold shares of LUNA. Wasatch Advisors LP lifted its position in Luna Innovations by 60.6% during the first quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company’s stock worth $6,484,000 after purchasing an additional 763,165 shares during the period. Squarepoint Ops LLC raised its stake in Luna Innovations by 353.7% during the second quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock worth $497,000 after acquiring an additional 121,154 shares in the last quarter. BNP Paribas Financial Markets lifted 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 worth $223,000 after acquiring an additional 60,547 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Luna Innovations by 61.9% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 145,740 shares of the scientific and technical instruments company’s stock valued at $466,000 after purchasing an additional 55,740 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Luna Innovations during the 2nd quarter valued at approximately $159,000. Institutional investors own 87.46% of the company’s stock.

About Luna Innovations

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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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