Engineers Gate Manager LP Invests $1.73 Million in Intuitive Machines, Inc. $LUNR

Key Points

• Engineers Gate Manager LP acquired 80,950 shares of Intuitive Machines worth approximately $1.73 million during the second quarter. Institutional investors collectively own 72.21% of LUNR.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $30.50, although several firms recently reduced their targets.
• LUNR opened at $13.87, well below its 52-week high of $46.75, while the company’s latest quarterly results missed expectations on both earnings and revenue. Insiders have sold approximately $159.4 million in stock over the past 90 days.

Engineers Gate Manager LP acquired a new stake in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,950 shares of the company's stock, valued at approximately $1,732,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tema ETFs LLC increased its stake in Intuitive Machines by 139,768.2% during the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company's stock valued at $66,418,000 after purchasing an additional 3,102,854 shares in the last quarter. Trustees of the University of Pennsylvania purchased a new stake in shares of Intuitive Machines during the fourth quarter valued at $52,689,000. Renaissance Technologies LLC purchased a new stake in shares of Intuitive Machines during the first quarter valued at $35,895,000. Bank of America Corp DE increased its position in shares of Intuitive Machines by 188.9% in the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company's stock valued at $34,948,000 after acquiring an additional 1,231,188 shares during the period. Finally, First Trust Advisors LP raised its stake in Intuitive Machines by 28.8% in the 1st quarter. First Trust Advisors LP now owns 657,318 shares of the company's stock worth $12,200,000 after acquiring an additional 147,095 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on LUNR shares. Stifel Nicolaus raised Intuitive Machines from a "hold" rating to a "buy" rating and lowered their price target for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $34.00 price objective on shares of Intuitive Machines in a research note on Wednesday, May 20th. Roth Capital set a $30.00 target price on Intuitive Machines in a report on Thursday, August 13th. Cantor Fitzgerald dropped their target price on Intuitive Machines from $43.00 to $32.00 and set an "overweight" rating on the stock in a research report on Friday, August 14th. Finally, Zacks Research upgraded Intuitive Machines from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.50.

Insiders Place Their Bets

In other news, insider Steven Vontur sold 3,050 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the sale, the insider owned 113,997 shares of the company's stock, valued at $1,838,771.61. This trade represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 1,698 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total transaction of $27,168.00. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at approximately $55,916,288. This trade represents a 0.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,193,437 shares of company stock worth $159,377,936. Corporate insiders own 54.10% of the company's stock.

Intuitive Machines Stock Performance

Shares of LUNR opened at $13.87 on Thursday. The business's 50-day moving average is $15.20 and its two-hundred day moving average is $21.59. The company has a market capitalization of $3.18 billion, a P/E ratio of -14.60 and a beta of 1.85. Intuitive Machines, Inc. has a fifty-two week low of $7.78 and a fifty-two week high of $46.75.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. Analysts forecast that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines' Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA's Commercial Lunar Payload Services program.

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