ARK Investment Management LLC Grows Position in Intuitive Machines, Inc. $LUNR

Key Points

• ARK Investment Management LLC increased its stake in Intuitive Machines, Inc. ($LUNR) by 56.1%, owning approximately 0.65% of the company valued at $12.6 million.
• Intuitive Machines reported a loss of $0.11 earnings per share in its latest quarter, missing analysts' expectations, and had a revenue of $50.31 million, compared to a forecast of $69.19 million.
• Recent analyst ratings on Intuitive Machines include a buy rating from Deutsche Bank with a target price of $18.00, while Zacks Research downgraded the stock to a strong sell.

ARK Investment Management LLC boosted its stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 56.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,158,775 shares of the company's stock after buying an additional 416,337 shares during the quarter. ARK Investment Management LLC owned approximately 0.65% of Intuitive Machines worth $12,596,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rossby Financial LCC purchased a new stake in Intuitive Machines in the 1st quarter valued at $67,000. Sigma Planning Corp purchased a new stake in Intuitive Machines in the 1st quarter valued at $78,000. Philadelphia Trust Co. raised its position in Intuitive Machines by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock valued at $82,000 after buying an additional 1,000 shares during the last quarter. IPG Investment Advisors LLC purchased a new stake in Intuitive Machines in the 1st quarter valued at $89,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Intuitive Machines during the 1st quarter valued at $91,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Stock Performance

Shares of LUNR opened at $12.68 on Wednesday. The business has a 50-day moving average of $10.08 and a 200 day moving average of $10.23. Intuitive Machines, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $24.95. The firm has a market cap of $2.27 billion, a P/E ratio of -3.91 and a beta of 1.41.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $50.31 million during the quarter, compared to the consensus estimate of $69.19 million. Intuitive Machines has set its FY 2025 guidance at EPS. As a group, research analysts predict that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LUNR. Deutsche Bank Aktiengesellschaft set a $18.00 target price on Intuitive Machines and gave the company a "buy" rating in a research report on Friday. Zacks Research raised Intuitive Machines to a "strong sell" rating in a research report on Monday, August 11th. UBS Group reaffirmed a "buy" rating on shares of Intuitive Machines in a research report on Monday, August 18th. Craig Hallum began coverage on Intuitive Machines in a research report on Tuesday, July 22nd. They set a "buy" rating and a $17.00 target price for the company. Finally, Canaccord Genuity Group decreased their target price on Intuitive Machines from $19.00 to $18.50 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Intuitive Machines currently has a consensus rating of "Hold" and an average price target of $15.44.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 40,254 shares of Intuitive Machines stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $13.49, for a total value of $543,026.46. Following the completion of the sale, the director owned 3,494,768 shares of the company's stock, valued at approximately $47,144,420.32. This trade represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 39.75% of the company's stock.

Intuitive Machines Company 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.

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