Analysts at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA - Get Free Report) in a note issued to investors on Friday. The firm set a "sell" rating on the scientific and technical instruments company's stock.
Luna Innovations Stock Down 0.3 %
LUNA stock traded down $0.01 during mid-day trading on Friday, reaching $1.61. 90,338 shares of the company traded hands, compared to its average volume of 220,956. The company has a fifty day moving average price of $1.95 and a 200-day moving average price of $2.57. Luna Innovations has a 52-week low of $1.43 and a 52-week high of $7.92.
Institutional Trading of Luna Innovations
Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of Luna Innovations by 672.6% in the 1st quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company's stock valued at $223,000 after acquiring an additional 60,547 shares in the last quarter. Vanguard Group Inc. raised its stake in Luna Innovations by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,846,673 shares of the scientific and technical instruments company's stock valued at $5,919,000 after purchasing an additional 16,773 shares in the last quarter. Keeley Teton Advisors LLC bought a new stake in Luna Innovations during the first quarter valued at approximately $64,000. Alpine Global Management LLC purchased a new position in Luna Innovations in the 1st quarter worth approximately $75,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Luna Innovations in the 2nd quarter worth $107,000. 87.46% of the stock is currently 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.
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