Caitong International Asset Management Co. Ltd Takes Position in Intuitive Machines, Inc. $LUNR

Key Points

• Caitong International Asset Management initiated a new position in Intuitive Machines, buying 160,938 shares worth about $2.6 million in the fourth quarter, giving it roughly 0.09% ownership.
• Institutional ownership remains high, with hedge funds and other institutions holding 72.21% of the company’s stock, and several other investors also adding to or starting positions.
• Recent fundamentals and insider activity were mixed: Intuitive Machines reported a wider-than-expected quarterly loss and revenue below estimates, while analysts currently rate the stock a consensus Hold with an average price target of $31.50.

Caitong International Asset Management Co. Ltd acquired a new stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 160,938 shares of the company's stock, valued at approximately $2,612,000. Caitong International Asset Management Co. Ltd owned approximately 0.09% of Intuitive Machines at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Intuitive Machines in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC lifted its holdings in Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock worth $43,000 after buying an additional 781 shares in the last quarter. Larson Financial Group LLC grew its stake in Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock valued at $43,000 after purchasing an additional 1,016 shares in the last quarter. CWM LLC grew its stake in Intuitive Machines by 406.4% during the 4th quarter. CWM LLC now owns 2,912 shares of the company's stock valued at $47,000 after purchasing an additional 2,337 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Intuitive Machines by 144.8% during the 4th quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company's stock valued at $48,000 after acquiring an additional 1,738 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Price Performance

Shares of Intuitive Machines stock opened at $22.85 on Friday. The firm has a 50 day simple moving average of $29.90 and a 200 day simple moving average of $21.74. Intuitive Machines, Inc. has a fifty-two week low of $7.78 and a fifty-two week high of $46.75. The firm has a market cap of $4.96 billion, a P/E ratio of -25.97 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $186.73 million for the quarter, compared to analysts' expectations of $202.95 million. On average, sell-side analysts expect that Intuitive Machines, Inc. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LUNR shares. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a report on Friday, May 15th. Canaccord Genuity Group increased their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Wall Street Zen upgraded Intuitive Machines from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. B. Riley Financial increased their target price on shares of Intuitive Machines to $45.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $31.50.

Insider Buying and Selling at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 13,751 shares of the company's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $324,661.11. Following the completion of the sale, the chief executive officer owned 1,162,495 shares in the company, valued at $27,446,506.95. This represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William John Liquori, Jr. sold 18,321 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.87, for a total value of $547,248.27. Following the completion of the transaction, the director owned 68,875 shares of the company's stock, valued at approximately $2,057,296.25. This represents a 21.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,200,345 shares of company stock worth $31,945,796 over the last ninety days. Insiders own 54.10% of the company's stock.

Intuitive Machines Company Profile

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.

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