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

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a report issued on Friday morning. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

Shares of NASDAQ:LUNA opened at $0.76 on Friday. The business’s 50 day simple moving average is $1.12 and its two-hundred day simple moving average is $1.66. Luna Innovations has a 52-week low of $0.70 and a 52-week high of $6.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LUNA. Needham Investment Management LLC lifted its holdings in shares of Luna Innovations by 150.0% in the third quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company’s stock valued at $2,350,000 after purchasing an additional 600,000 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in Luna Innovations by 402.5% during the third quarter. Pinnacle Associates Ltd. now owns 155,482 shares of the scientific and technical instruments company’s stock worth $365,000 after acquiring an additional 124,543 shares during the period. Renaissance Technologies LLC lifted its holdings in Luna Innovations by 71.7% during the fourth quarter. Renaissance Technologies LLC now owns 297,600 shares of the scientific and technical instruments company’s stock worth $643,000 after acquiring an additional 124,300 shares during the period. Royce & Associates LP lifted its holdings in Luna Innovations by 4.0% during the third quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock worth $6,573,000 after acquiring an additional 107,566 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Luna Innovations during the third quarter worth $144,000. 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.