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

StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report report published on Tuesday morning. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Trading Up 3.3 %

Shares of LUNA opened at $0.79 on Tuesday. Luna Innovations has a 52 week low of $0.70 and a 52 week high of $7.92. The stock has a fifty day moving average of $1.46 and a 200-day moving average of $1.91.

Institutional Trading of Luna Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP boosted its position in Luna Innovations by 4.0% during the 3rd quarter. Royce & Associates LP now owns 2,797,038 shares of the scientific and technical instruments company’s stock worth $6,573,000 after buying an additional 107,566 shares during the period. Needham Investment Management LLC raised its stake in shares of 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 acquiring an additional 600,000 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of 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 purchasing an additional 124,543 shares during the period. Squarepoint Ops LLC grew its stake in shares of Luna Innovations by 353.7% in the second quarter. Squarepoint Ops LLC now owns 155,409 shares of the scientific and technical instruments company’s stock worth $497,000 after purchasing an additional 121,154 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Luna Innovations during the 3rd quarter worth $144,000. 87.46% of the stock is currently owned by 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.