StockNews.com assumed coverage on shares of Luna Innovations (NASDAQ:LUNA - Get Free Report) in a research note issued on Thursday. The brokerage set a "sell" rating on the scientific and technical instruments company's stock.
Luna Innovations Trading Up 0.6 %
LUNA traded up $0.01 during trading on Thursday, hitting $1.55. 503,785 shares of the company's stock traded hands, compared to its average volume of 340,735. The stock has a market capitalization of $52.64 million, a price-to-earnings ratio of -19.38 and a beta of 1.58. Luna Innovations has a 12-month low of $1.43 and a 12-month high of $7.92. The company's 50 day simple moving average is $2.05 and its two-hundred day simple moving average is $2.61.
Hedge Funds Weigh In On Luna Innovations
A number of institutional investors and hedge funds have recently modified their holdings of LUNA. Malaga Cove Capital LLC purchased a new position in shares of Luna Innovations in the 3rd quarter worth $25,000. Hodges Capital Management Inc. purchased a new position in shares of Luna Innovations in the 2nd quarter worth $33,000. AQR Capital Management LLC purchased a new position in shares of Luna Innovations in the 2nd quarter worth $37,000. Point72 DIFC Ltd purchased a new position in shares of Luna Innovations in the 2nd quarter worth $39,000. Finally, Summit Securities Group LLC purchased a new position in shares of Luna Innovations in the 2nd quarter worth $45,000. 87.46% of the stock is currently owned by hedge funds and other institutional investors.
Luna Innovations Company Profile
(
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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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