Intuitive Machines (NASDAQ:LUNR) Major Shareholder International L.P. Advent Sells 11,495,514 Shares

Intuitive Machines, Inc. (NASDAQ:LUNR) major shareholder International L.P. Advent sold 11,495,514 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the completion of the transaction, the insider owned 11,495,514 shares in the company, valued at approximately $147,602,399.76. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intuitive Machines Stock Performance

Shares of LUNR opened at $11.39 on Thursday. Intuitive Machines, Inc. has a one year low of $7.78 and a one year high of $46.75. The stock has a 50-day moving average price of $23.52 and a 200 day moving average price of $22.31. The company has a market capitalization of $2.47 billion, a P/E ratio of -12.94 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. As a group, equities research analysts forecast that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LUNR. Calamos Advisors LLC acquired a new stake in shares of Intuitive Machines during the 1st quarter worth approximately $2,984,000. Jefferies Financial Group Inc. acquired a new position in Intuitive Machines during the 4th quarter valued at approximately $717,000. Fifth Third Bancorp bought a new position in Intuitive Machines during the 1st quarter worth $4,314,000. Trustees of the University of Pennsylvania bought a new position in Intuitive Machines during the 4th quarter worth $52,689,000. Finally, SBI Securities Co. Ltd. increased its position in Intuitive Machines by 403.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 191,783 shares of the company’s stock worth $3,113,000 after buying an additional 153,668 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LUNR has been the subject of several research analyst reports. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $34.00 price target on shares of Intuitive Machines in a research report on Wednesday, May 20th. Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Roth Capital boosted their price objective on Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research note on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.