Luna Innovations (NASDAQ:LUNA) Coverage Initiated at StockNews.com

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

Luna Innovations Stock Performance

Shares of LUNA stock opened at $0.68 on Monday. The stock’s 50-day simple moving average is $0.84 and its 200-day simple moving average is $1.45. Luna Innovations has a fifty-two week low of $0.65 and a fifty-two week high of $3.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. acquired a new position in shares of Luna Innovations in the 4th quarter valued at $39,000. Founders Financial Alliance LLC purchased a new stake in Luna Innovations during the 4th quarter valued at about $43,000. XTX Topco Ltd acquired a new position in shares of Luna Innovations in the third quarter valued at about $55,000. Raymond James Financial Inc. purchased a new position in shares of Luna Innovations in the fourth quarter worth about $57,000. Finally, Virtu Financial LLC purchased a new position in shares of Luna Innovations in the fourth quarter worth about $78,000. Hedge funds and other institutional investors 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.