Caitong International Asset Management Co. Ltd Raises Position in Intuitive Machines, Inc. (NASDAQ:LUNR)

Key Points

• Caitong International Asset Management Co. Ltd has significantly increased its holdings in Intuitive Machines, Inc. by 23,206.6%, now owning a total of 73,649 shares valued at approximately $549,000.
• Intuitive Machines' stock recently saw a 3.1% increase, with the company's current market capitalization at $1.87 billion and a PE ratio of -3.23.
• In their latest earnings report, Intuitive Machines reported a loss of ($0.11) earnings per share, which missed analysts' expectations, alongside a revenue of only $50.31 million for the quarter.

Caitong International Asset Management Co. Ltd grew its holdings in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 23,206.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,649 shares of the company's stock after purchasing an additional 73,333 shares during the quarter. Caitong International Asset Management Co. Ltd's holdings in Intuitive Machines were worth $549,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new position in Intuitive Machines in the fourth quarter valued at $44,000. Rossby Financial LCC purchased a new position in shares of Intuitive Machines during the first quarter valued at approximately $67,000. Sigma Planning Corp purchased a new position in shares of Intuitive Machines during the first quarter valued at approximately $78,000. Park Avenue Securities LLC purchased a new position in Intuitive Machines during the first quarter worth approximately $81,000. Finally, IPG Investment Advisors LLC acquired a new stake in shares of Intuitive Machines in the first quarter worth $89,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Stock Up 3.1%

NASDAQ LUNR opened at $10.46 on Wednesday. The stock has a market capitalization of $1.87 billion, a PE ratio of -3.23 and a beta of 1.40. The company has a 50 day moving average price of $11.05 and a two-hundred day moving average price of $11.54. Intuitive Machines, Inc. has a 12-month low of $3.40 and a 12-month high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The business had revenue of $50.31 million for the quarter, compared to analysts' expectations of $69.19 million. As a group, equities analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 40,254 shares of Intuitive Machines stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.49, for a total value of $543,026.46. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at $47,144,420.32. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 201,270 shares of company stock valued at $2,481,659 in the last ninety days. 39.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LUNR. Canaccord Genuity Group lowered their price target on shares of Intuitive Machines from $21.50 to $19.00 and set a "buy" rating for the company in a report on Friday, August 8th. Roth Capital restated a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, May 13th. Craig Hallum assumed coverage on shares of Intuitive Machines in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 price objective on the stock. Bank of America lowered their target price on shares of Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating on the stock in a research note on Wednesday, July 16th. Finally, Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.35.

About Intuitive Machines

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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