Fifth Third Bancorp Makes New $4.31 Million Investment in Intuitive Machines, Inc. $LUNR

Key Points

• Fifth Third Bancorp opened a new position in Intuitive Machines during the first quarter, buying 232,456 shares worth about $4.31 million.
• Institutional interest remains strong overall, with hedge funds and other investors owning 72.21% of the company, while several firms also added or initiated stakes in the stock.
• Insiders have been selling shares, including director Kamal Seyed Ghaffarian and director William John Liquori Jr.; the company also recently reported a loss and revenue miss in its latest quarterly results.

Fifth Third Bancorp 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 firm bought 232,456 shares of the company's stock, valued at approximately $4,314,000. Fifth Third Bancorp owned 0.11% of Intuitive Machines as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its position in Intuitive Machines by 5.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 553,486 shares of the company's stock valued at $10,273,000 after buying an additional 27,108 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in shares of Intuitive Machines in the 1st quarter valued at about $225,000. K.J. Harrison & Partners Inc bought a new stake in Intuitive Machines in the first quarter valued at approximately $371,000. Counterpoint Mutual Funds LLC bought a new stake in Intuitive Machines in the 1st quarter valued at $909,000. Finally, Sierra Summit Advisors LLC bought a new position in shares of Intuitive Machines in the first quarter valued at about $883,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Insider Buying and Selling at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $20.43, for a total value of $2,899,200.87. Following the sale, the director directly owned 3,494,768 shares in the company, valued at $71,398,110.24. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William John Liquori, Jr. sold 18,321 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the sale, the director directly owned 68,875 shares of the company's stock, valued at $2,057,296.25. This represents a 21.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,019,775 shares of company stock worth $28,399,292. Insiders own 54.10% of the company's stock.

Intuitive Machines Price Performance

Shares of NASDAQ LUNR opened at $13.52 on Friday. The company has a 50 day simple moving average of $26.80 and a 200 day simple moving average of $22.51. The firm has a market cap of $2.93 billion, a PE ratio of -15.36 and a beta of 1.78. Intuitive Machines, Inc. has a 1 year low of $7.78 and a 1 year high of $46.75.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. As a group, research analysts anticipate that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LUNR shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Roth Capital upped their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Zacks Research upgraded Intuitive Machines from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald lifted their price target on Intuitive Machines from $26.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.50.

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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