StockNews.com Begins Coverage on Luna Innovations (NASDAQ:LUNA)

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report issued on Sunday. 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 $2.13 on Friday. The firm’s 50-day simple moving average is $2.43 and its 200-day simple moving average is $2.82. Luna Innovations has a 1-year low of $1.91 and a 1-year high of $7.92. The firm has a market cap of $72.33 million, a P/E ratio of -26.63 and a beta of 1.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its stake in Luna Innovations by 75.0% during 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 last quarter. Avenir Corp increased its position in Luna Innovations by 35.3% during the 4th quarter. Avenir Corp now owns 221,180 shares of the scientific and technical instruments company’s stock worth $1,471,000 after purchasing an additional 57,700 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in 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 buying an additional 60,547 shares during the period. Vanguard Group Inc. lifted its position in Luna Innovations by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company’s stock valued at $5,919,000 after buying an additional 16,773 shares in the last quarter. Finally, Keeley Teton Advisors LLC purchased a new stake in Luna Innovations during the first quarter worth approximately $64,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

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.