Concurrent Investment Advisors LLC Purchases New Position in Intuitive Machines, Inc. (NASDAQ:LUNR)

Concurrent Investment Advisors LLC bought a new stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,200 shares of the company's stock, valued at approximately $173,000.

Several other hedge funds have also made changes to their positions in LUNR. Bank of New York Mellon Corp raised its stake in shares of Intuitive Machines by 43.4% in the first quarter. Bank of New York Mellon Corp now owns 101,440 shares of the company's stock worth $756,000 after acquiring an additional 30,700 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Intuitive Machines during the first quarter worth $91,000. Rossby Financial LCC acquired a new position in shares of Intuitive Machines during the first quarter worth about $67,000. Vontobel Holding Ltd. bought a new position in shares of Intuitive Machines during the 1st quarter worth approximately $136,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in Intuitive Machines during the first quarter worth about $1,935,000. Institutional investors own 72.21% of the company's stock.

Insiders Place Their Bets

In related news, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the completion of the sale, the chief financial officer owned 366,824 shares of the company's stock, valued at approximately $4,401,888. This trade represents a 16.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 80,508 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $12.05, for a total transaction of $970,121.40. Following the completion of the sale, the director owned 3,494,768 shares in the company, valued at $42,111,954.40. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,946 shares of company stock valued at $4,269,089 over the last 90 days. Corporate insiders own 39.75% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LUNR. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Benchmark restated a "buy" rating and set a $16.00 target price on shares of Intuitive Machines in a research note on Tuesday, March 25th. B. Riley reissued a "buy" rating on shares of Intuitive Machines in a report on Tuesday, March 25th. Barclays started coverage on Intuitive Machines in a report on Thursday, May 22nd. They set a "neutral" rating for the company. Finally, Roth Capital reiterated a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.06.

Intuitive Machines Trading Up 0.1%

Intuitive Machines stock traded up $0.01 during mid-day trading on Tuesday, reaching $11.08. The company had a trading volume of 5,940,894 shares, compared to its average volume of 13,022,553. The business has a fifty day simple moving average of $10.91 and a 200 day simple moving average of $12.69. The company has a market cap of $1.98 billion, a P/E ratio of -4.06 and a beta of 1.41. Intuitive Machines, Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.10). The business had revenue of $62.52 million during the quarter, compared to analysts' expectations of $66.07 million. Research analysts forecast that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

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.