Luna Innovations (NASDAQ:LUNA) Now Covered by Analysts at StockNews.com

Posted by Matthew Steigler on Jan 29th, 2025

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

Luna Innovations Trading Up 5.6 %

Shares of LUNA opened at $0.95 on Monday. Luna Innovations has a 1-year low of $0.70 and a 1-year high of $7.92. The firm has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $1.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of Luna Innovations during the 3rd quarter valued at about $55,000. Needham Investment Management LLC increased its holdings in Luna Innovations by 150.0% during 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 buying an additional 600,000 shares during the last quarter. Royce & Associates LP raised its position in Luna Innovations by 4.0% in 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. GSA Capital Partners LLP purchased a new position in shares of Luna Innovations during the 3rd quarter worth $144,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of Luna Innovations during the 3rd quarter valued at $25,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

About Luna Innovations

(Get Free Report)

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.