Mitsubishi UFJ Asset Management Co. Ltd. Trims Holdings in Intuitive Machines, Inc. $LUNR

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in Intuitive Machines, Inc. (NASDAQ:LUNR) by 8.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 386,805 shares of the company’s stock after selling 37,982 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Intuitive Machines were worth $4,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LUNR. Philadelphia Trust Co. raised its holdings in shares of Intuitive Machines by 10.0% during the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company’s stock worth $82,000 after acquiring an additional 1,000 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Intuitive Machines by 35.6% in the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock valued at $47,000 after purchasing an additional 1,127 shares during the period. Golden State Wealth Management LLC increased its position in Intuitive Machines by 180.0% during the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after purchasing an additional 1,800 shares during the last quarter. Invesco Ltd. raised its stake in Intuitive Machines by 19.7% during the first quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock worth $120,000 after purchasing an additional 2,643 shares during the period. Finally, Freedom Investment Management Inc. raised its stake in Intuitive Machines by 30.4% during the first quarter. Freedom Investment Management Inc. now owns 14,061 shares of the company’s stock worth $105,000 after purchasing an additional 3,281 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Stock Performance

NASDAQ:LUNR opened at $8.66 on Friday. The stock has a market capitalization of $1.55 billion, a P/E ratio of -2.67 and a beta of 1.42. The company has a 50 day moving average price of $10.76 and a 200 day moving average price of $10.61. Intuitive Machines, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $24.95.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America dropped their price target on shares of Intuitive Machines from $10.50 to $8.50 and set an “underperform” rating for the company in a research note on Monday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a report on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of Intuitive Machines in a research report on Monday, August 18th. Zacks Research raised Intuitive Machines to a “strong sell” rating in a research note on Monday, August 11th. Finally, Canaccord Genuity Group reduced their target price on Intuitive Machines from $18.50 to $15.50 and set a “buy” rating on the stock in a research report on Friday, November 7th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.40.

Insider Buying and Selling

In other news, Director Michael Blitzer purchased 141,080 shares of the stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average cost of $9.27 per share, for a total transaction of $1,307,811.60. Following the completion of the transaction, the director directly owned 1,831,248 shares in the company, valued at approximately $16,975,668.96. This represents a 8.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 39.75% of the stock is owned by company insiders.

Intuitive Machines Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.