Concurrent Investment Advisors LLC Invests $173,000 in Intuitive Machines, Inc. (NASDAQ:LUNR)

Concurrent Investment Advisors LLC bought a new position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 23,200 shares of the company's stock, valued at approximately $173,000.

Several other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Intuitive Machines by 43.4% during the 1st quarter. Bank of New York Mellon Corp now owns 101,440 shares of the company's stock worth $756,000 after purchasing an additional 30,700 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Intuitive Machines in the 1st quarter worth about $91,000. Rossby Financial LCC acquired a new stake in Intuitive Machines in the 1st quarter valued at about $67,000. Vontobel Holding Ltd. acquired a new stake in Intuitive Machines in the 1st quarter valued at about $136,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in Intuitive Machines in the 1st quarter valued at about $1,935,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 80,508 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were 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 of the company's stock, valued at approximately $42,111,954.40. This represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter Mcgrath sold 72,168 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total transaction of $866,016.00. Following the completion of the sale, the chief financial officer directly owned 366,824 shares of the company's stock, valued at $4,401,888. This trade represents a 16.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,946 shares of company stock valued at $4,269,089. Corporate insiders own 39.75% of the company's stock.

Intuitive Machines Price Performance

NASDAQ:LUNR traded up $1.03 on Thursday, reaching $12.25. The stock had a trading volume of 14,718,572 shares, compared to its average volume of 13,091,700. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -4.49 and a beta of 1.41. Intuitive Machines, Inc. has a 12-month low of $3.15 and a 12-month high of $24.95. The firm's fifty day moving average is $11.06 and its two-hundred day moving average is $12.62.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The firm had revenue of $62.52 million for the quarter, compared to analyst estimates of $66.07 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUNR has been the topic of a number of research reports. Benchmark reissued a "buy" rating and issued a $16.00 price objective 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 research note on Tuesday, March 25th. Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, May 13th. Canaccord Genuity Group increased their price objective 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. Finally, Barclays started coverage on shares of Intuitive Machines in a research note on Thursday, May 22nd. They issued a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.44.

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.