Should You Hold Luna Innovations Incorporated (LUNA)?
Liberty Park Capital Management, LLC, a financial management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 7.45%, net of fees, in the first quarter compared to the Russell 2000 Index’s 2.74% return. The long position of the fund gained 6.02% while the short position fell 1.25% in the quarter. The long position contributed 6.16% and the short position contributed 1.08% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 0.57%, net of fees in the first 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 first quarter 2023 investor letter. Headquartered in Roanoke, Virginia, Luna Innovations Incorporated (NASDAQ:LUNA) is an advanced optical technology company. On May 02, 2023, Luna Innovations Incorporated (NASDAQ:LUNA) stock closed at $6.27 per share. One-month return of Luna Innovations Incorporated (NASDAQ:LUNA) was -3.39%, and its shares gained 10.00% of their value over the last 52 weeks. Luna Innovations Incorporated (NASDAQ:LUNA) has a market capitalization of $209.727 million.
Liberty Park Capital made the following comment about Luna Innovations Incorporated (NASDAQ:LUNA) in its Q1 2023 investor letter:
"We are pleased that Liberty Park Fund, LP has gotten off to a strong start in 2023. January was a particularly strong month for both of our funds, and LPF was able to use the market’s strength to install several new short positions; those positions greatly helped the portfolio in February and March as the market receded.
Luna Innovations Incorporated (NASDAQ:LUNA)’s share price gave back some of its recent gains after the company reported in line 4Q:22 results and 2023 guidance."
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Luna Innovations Incorporated (NASDAQ:LUNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held Luna Innovations Incorporated (NASDAQ:LUNA) at the end of the fourth quarter which was 8 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
