StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA - Free Report) in a research report released on Saturday morning. The brokerage issued a sell rating on the scientific and technical instruments company's stock.
Luna Innovations Stock Performance
Shares of LUNA stock traded up $0.06 during mid-day trading on Friday, reaching $1.63. 129,602 shares of the company's stock traded hands, compared to its average volume of 330,831. Luna Innovations has a 12 month low of $1.43 and a 12 month high of $7.92. The firm has a 50 day moving average price of $1.88 and a two-hundred day moving average price of $2.55. The firm has a market capitalization of $55.35 million, a PE ratio of -20.38 and a beta of 1.63.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of LUNA. XTX Topco Ltd purchased a new stake in Luna Innovations in the 3rd quarter worth $55,000. Needham Investment Management LLC lifted its stake in Luna Innovations by 150.0% in the 3rd quarter. Needham Investment Management LLC now owns 1,000,000 shares of the scientific and technical instruments company's stock worth $2,350,000 after purchasing an additional 600,000 shares in the last quarter. Royce & Associates LP lifted its stake in Luna Innovations by 4.0% in 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 purchasing an additional 107,566 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Luna Innovations in the 3rd quarter worth $144,000. Finally, Malaga Cove Capital LLC purchased a new stake in Luna Innovations in the 3rd quarter worth $25,000. Hedge funds and other institutional investors own 87.46% of the company's stock.
About Luna Innovations
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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.
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