Intuitive Machines (NASDAQ:LUNR) Major Shareholder Sells 11,495,514 Shares

Intuitive Machines, Inc. (NASDAQ:LUNR) major shareholder International L.P. Advent sold 11,495,514 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the sale, the insider owned 11,495,514 shares of the company’s stock, valued at $147,602,399.76. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intuitive Machines Price Performance

LUNR traded down $0.98 during trading hours on Wednesday, reaching $11.39. The company’s stock had a trading volume of 7,784,728 shares, compared to its average volume of 13,033,756. Intuitive Machines, Inc. has a fifty-two week low of $7.78 and a fifty-two week high of $46.75. The stock has a market cap of $2.47 billion, a PE ratio of -12.94 and a beta of 1.78. The business’s 50-day moving average is $23.96 and its 200-day moving average is $22.37.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. Analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in Intuitive Machines by 19.7% during the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock worth $120,000 after buying an additional 2,643 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Intuitive Machines by 43.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock worth $184,000 after acquiring an additional 7,528 shares in the last quarter. Caxton Associates LLP purchased a new stake in Intuitive Machines during the first quarter worth approximately $139,000. Creative Planning boosted its holdings in Intuitive Machines by 29.3% in the second quarter. Creative Planning now owns 30,407 shares of the company’s stock valued at $331,000 after purchasing an additional 6,886 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock valued at $205,000 after purchasing an additional 2,506 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LUNR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $34.00 price target on shares of Intuitive Machines in a report on Wednesday, May 20th. Roth Capital boosted their price objective on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a report on Friday, April 17th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, KeyCorp lifted their price target on shares of Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Machines has a consensus rating of “Hold” and an average target price of $33.31.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.