Luna Innovations (NASDAQ:LUNA) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Luna Innovations Incorporated (NASDAQ:LUNA)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.55 and traded as low as $1.58. Luna Innovations shares last traded at $1.63, with a volume of 129,536 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Luna Innovations in a report on Saturday. They issued a “sell” rating on the stock.

Luna Innovations Stock Performance

The firm has a market cap of $55.35 million, a PE ratio of -20.38 and a beta of 1.63. The firm has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $2.55.

Institutional Investors Weigh In On Luna Innovations

Large investors have recently bought and sold shares of the business. Malaga Cove Capital LLC bought a new stake in shares of Luna Innovations in the 3rd quarter valued at approximately $25,000. Hodges Capital Management Inc. bought a new stake in Luna Innovations in the second quarter worth $33,000. AQR Capital Management LLC purchased a new position in Luna Innovations during the second quarter worth $37,000. Point72 DIFC Ltd bought a new position in Luna Innovations during the second quarter valued at $39,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Luna Innovations in the second quarter valued at $45,000. 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.