Citigroup Inc. Buys 904,065 Shares of Intuitive Machines, Inc. $LUNR

Key Points

• Citigroup boosted its stake in Intuitive Machines by 627.6% in Q3, buying 904,065 shares to hold 1,048,106 shares (about 0.59% of the company) valued at roughly $11.0 million.
• Insiders have been net sellers recently — the CEO sold 86,803 shares and the CFO 25,541 shares, with insiders offloading 3,689,913 shares worth $62.24 million in the past 90 days, though they still own 39.75% of the company.
• The stock has a $2.97 billion market cap and a 52-week range of $6.14–$23.32, and analysts hold a “Moderate Buy” consensus with a $17.27 average target price.

Citigroup Inc. lifted its position in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 627.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,048,106 shares of the company's stock after purchasing an additional 904,065 shares during the quarter. Citigroup Inc. owned about 0.59% of Intuitive Machines worth $11,026,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in Intuitive Machines by 180.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company's stock valued at $30,000 after buying an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Intuitive Machines by 35.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company's stock valued at $47,000 after acquiring an additional 1,127 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Intuitive Machines in the third quarter valued at $94,000. Wealth Enhancement Advisory Services LLC bought a new stake in Intuitive Machines in the third quarter worth $109,000. Finally, Axim Planning & Wealth bought a new stake in Intuitive Machines in the third quarter worth $113,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR opened at $16.48 on Friday. Intuitive Machines, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $23.32. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -6.67 and a beta of 1.37. The business's 50 day moving average price is $18.12 and its 200-day moving average price is $13.04.

Analysts Set New Price Targets

LUNR has been the subject of several research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Zacks Research raised shares of Intuitive Machines from a "strong sell" rating to a "hold" rating in a report on Thursday, November 20th. Bank of America boosted their price objective on Intuitive Machines from $8.50 to $9.50 and gave the stock an "underperform" rating in a research note on Wednesday, November 19th. Roth Mkm reaffirmed a "buy" rating on shares of Intuitive Machines in a research note on Wednesday. Finally, Stifel Nicolaus set a $20.00 target price on Intuitive Machines and gave the company a "hold" rating in a research report on Friday, January 9th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $17.27.

Insider Activity at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 86,803 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $16.01, for a total transaction of $1,389,716.03. Following the transaction, the chief executive officer directly owned 1,176,246 shares of the company's stock, valued at approximately $18,831,698.46. This trade represents a 6.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Peter Mcgrath sold 25,541 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total value of $445,435.04. Following the completion of the sale, the chief financial officer owned 425,800 shares of the company's stock, valued at $7,425,952. The trade was a 5.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,689,913 shares of company stock valued at $62,240,781 over the last ninety days. Company insiders own 39.75% of the company's stock.

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.

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