Luna Innovations (NASDAQ:LUNA) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Luna Innovations Incorporated (NASDAQ:LUNA) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.55 and traded as low as $1.58. Luna Innovations shares last traded at $1.63, with a volume of 129,536 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Luna Innovations in a report on Saturday. They issued a “sell” rating for the company.

Luna Innovations Stock Up 3.8 %

The business’s fifty day moving average is $1.90 and its 200-day moving average is $2.55. The company has a market cap of $55.35 million, a PE ratio of -20.38 and a beta of 1.63.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LUNA. Hodges Capital Management Inc. bought a new position in Luna Innovations in the 2nd quarter worth $33,000. Malaga Cove Capital LLC purchased a new position in shares of Luna Innovations in the third quarter valued at about $25,000. AQR Capital Management LLC bought a new position in shares of Luna Innovations in the second quarter worth about $37,000. Point72 DIFC Ltd purchased a new stake in shares of Luna Innovations during the second quarter worth about $39,000. Finally, Summit Securities Group LLC bought a new stake in Luna Innovations during the 2nd quarter valued at approximately $45,000. 87.46% of the stock is currently owned by institutional investors.

Luna Innovations Company Profile

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.