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

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 shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the completion of the sale, the insider directly owned 11,495,514 shares of the company’s stock, valued at approximately $147,602,399.76. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intuitive Machines Trading Up 7.6%

Shares of LUNR stock opened at $12.25 on Friday. Intuitive Machines, Inc. has a twelve month low of $7.78 and a twelve month high of $46.75. The stock has a fifty day simple moving average of $23.08 and a two-hundred day simple moving average of $22.27. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -13.92 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Research analysts predict that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of Intuitive Machines

Several hedge funds have recently modified their holdings of the company. Trustees of the University of Pennsylvania purchased a new position in shares of Intuitive Machines in the 4th quarter worth approximately $52,689,000. Tema ETFs LLC lifted its position in Intuitive Machines by 139,768.2% during the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after acquiring an additional 3,102,854 shares during the last quarter. First Trust Advisors LP lifted its position in Intuitive Machines by 3,582.9% during the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after acquiring an additional 2,386,688 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Intuitive Machines in the first quarter valued at approximately $35,895,000. Finally, Jump Financial LLC grew its holdings in Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after purchasing an additional 1,314,888 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on LUNR. B. Riley Financial reaffirmed a “buy” rating on shares of Intuitive Machines in a research report on Wednesday, June 24th. KeyCorp lifted their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research note on Friday, May 15th. Cantor Fitzgerald upped their target price on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.