Luna Innovations Incorporated (LUNA) Continues to Deliver on its 20% Top-Line Growth Target

Liberty Park Capital Management, LLC, a financial management company, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 14.60%, net of fees, in the second quarter compared to the Russell 2000 Index’s 5.18% return. Both the Liberty Park funds delivered excellent results in the quarter. The increase in the fund’s long positions contributed 15.28% on a weight-adjusted basis, while the increase in shorts detracted 0.96% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 19.46% net of fees in the second quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Liberty Park Capital highlighted stocks like Luna Innovations Incorporated (NASDAQ:LUNA) in the second quarter 2023 investor letter. Headquartered in Roanoke, Virginia, Luna Innovations Incorporated (NASDAQ:LUNA) is an advanced optical technology company. On September 28, 2023, Luna Innovations Incorporated (NASDAQ:LUNA) stock closed at $5.87 per share. One-month return of Luna Innovations Incorporated (NASDAQ:LUNA) was -16.62%, and its shares gained 32.21% of their value over the last 52 weeks. Luna Innovations Incorporated (NASDAQ:LUNA) has a market capitalization of $199.138 million.

Liberty Park Capital made the following comment about Luna Innovations Incorporated (NASDAQ:LUNA) in its Q2 2023 investor letter:

“Luna Innovations Incorporated (NASDAQ:LUNA) reported a better-than-expected first quarter and held its first-ever investor day in May. The company continues to deliver on its targets of 20% top-line growth and operating leverage.”

provider, network, datacenter, parallel, net, hardware, business, server, new, internet, tech, hub, broadband, cable, data, cords, port, socket, digital, adapter, rack,

asharkyu/Shutterstock.com

Luna Innovations Incorporated (NASDAQ:LUNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Luna Innovations Incorporated (NASDAQ:LUNA) at the end of second quarter which was 16 in the previous quarter.

We discussed Luna Innovations Incorporated (NASDAQ:LUNA) in another article and shared Liberty Park Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.