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

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research note issued to investors on Sunday morning. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Price Performance

NASDAQ:LUNA opened at $1.07 on Friday. The business has a fifty day simple moving average of $1.61 and a two-hundred day simple moving average of $2.05. Luna Innovations has a 1 year low of $0.70 and a 1 year high of $7.92.

Institutional Trading of Luna Innovations

Large investors have recently bought and sold shares of the company. Malaga Cove Capital LLC purchased a new position in shares of Luna Innovations in the third quarter valued at $25,000. AQR Capital Management LLC purchased a new position in shares of Luna Innovations in the second quarter valued at $37,000. Point72 DIFC Ltd purchased a new position in shares of Luna Innovations in the second quarter valued at $39,000. Marathon Capital Management grew its position in shares of Luna Innovations by 9.8% in the second quarter. Marathon Capital Management now owns 167,500 shares of the scientific and technical instruments company’s stock valued at $536,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Luna Innovations in the second quarter valued at $48,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

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.