Analysts at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA - Get Free Report) in a research note issued on Monday. The brokerage set a "sell" rating on the scientific and technical instruments company's stock.
Luna Innovations Price Performance
LUNA traded down $0.01 on Monday, reaching $2.07. 53,468 shares of the company's stock were exchanged, compared to its average volume of 349,422. The stock has a market cap of $70.30 million, a PE ratio of -25.75 and a beta of 1.58. Luna Innovations has a twelve month low of $1.91 and a twelve month high of $7.92. The stock's fifty day moving average price is $2.39 and its 200-day moving average price is $2.78.
Hedge Funds Weigh In On Luna Innovations
A number of institutional investors and hedge funds have recently bought and sold shares of LUNA. Hodges Capital Management Inc. acquired a new position in Luna Innovations in the 2nd quarter valued at about $33,000. AQR Capital Management LLC acquired a new position in Luna Innovations in the 2nd quarter valued at about $37,000. Point72 DIFC Ltd acquired a new position in Luna Innovations in the 2nd quarter valued at about $39,000. Summit Securities Group LLC acquired a new position in Luna Innovations in the 2nd quarter valued at about $45,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Luna Innovations in the 2nd quarter valued at about $48,000. 87.46% of the stock is currently owned by institutional investors and hedge funds.
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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