Equities researchers at StockNews.com initiated coverage on shares of Luna Innovations (NASDAQ:LUNA - Get Free Report) in a research report issued on Wednesday. The brokerage set a "sell" rating on the scientific and technical instruments company's stock.
Luna Innovations Price Performance
Shares of NASDAQ LUNA traded down $0.08 during midday trading on Wednesday, reaching $1.69. 32,709 shares of the stock were exchanged, compared to its average volume of 344,655. Luna Innovations has a 12 month low of $1.43 and a 12 month high of $7.92. The business has a 50-day simple moving average of $2.16 and a two-hundred day simple moving average of $2.66. The company has a market capitalization of $57.39 million, a price-to-earnings ratio of -22.13 and a beta of 1.58.
Institutional Trading of Luna Innovations
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its holdings in shares of Luna Innovations by 60.6% in the 1st quarter. Wasatch Advisors LP now owns 2,023,242 shares of the scientific and technical instruments company's stock valued at $6,484,000 after purchasing an additional 763,165 shares during the period. Squarepoint Ops LLC raised 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 buying an additional 121,154 shares during the period. BNP Paribas Financial Markets raised its stake in Luna Innovations by 672.6% in the first quarter. BNP Paribas Financial Markets now owns 69,549 shares of the scientific and technical instruments company's stock valued at $223,000 after buying an additional 60,547 shares during the period. Bradley Foster & Sargent Inc. CT lifted its position in shares of Luna Innovations by 61.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 145,740 shares of the scientific and technical instruments company's stock valued at $466,000 after buying an additional 55,740 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Luna Innovations during the 2nd quarter worth approximately $159,000. 87.46% of the stock is owned by 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.
Recommended Stories
Before you consider Luna Innovations, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Luna Innovations wasn't on the list.
While Luna Innovations currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
