Investment analysts at StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA - Get Free Report) in a report issued on Tuesday. The brokerage set a "sell" rating on the scientific and technical instruments company's stock.
Luna Innovations Stock Performance
NASDAQ LUNA remained flat at $1.81 during trading on Tuesday. The company's stock had a trading volume of 98,636 shares, compared to its average volume of 319,648. Luna Innovations has a 52 week low of $1.43 and a 52 week high of $7.92. The firm has a market cap of $61.47 million, a price-to-earnings ratio of -22.63 and a beta of 1.62. The business's 50 day moving average is $1.77 and its 200 day moving average is $2.44.
Institutional Trading of Luna Innovations
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Needham Investment Management LLC increased its position 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 purchasing an additional 600,000 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Luna Innovations by 402.5% during the 3rd 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. Squarepoint Ops LLC increased its stake in 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 valued at $497,000 after acquiring an additional 121,154 shares during the period. 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 purchasing an additional 107,566 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Luna Innovations during the third quarter valued at approximately $144,000. 87.46% of the stock is currently owned by institutional investors and hedge funds.
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.
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