Intuitive Machines, Inc. $LUNR Shares Bought by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas increased its stake in Intuitive Machines by 8.1% in the fourth quarter, buying 39,626 more shares and bringing its total to 526,378 shares worth about $8.53 million.
• Intuitive Machines reported weaker-than-expected quarterly results, posting a loss of $0.25 per share on revenue of $186.73 million, both below analyst estimates.
• The stock has been volatile amid mixed sentiment: shares were down 7.6% in the session cited, while analysts currently split between buys and sells with a consensus rating of Hold and a $31.50 price target.

Amova Asset Management Americas Inc. grew its stake in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 526,378 shares of the company's stock after purchasing an additional 39,626 shares during the quarter. Amova Asset Management Americas Inc. owned 0.29% of Intuitive Machines worth $8,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Intuitive Machines during the fourth quarter worth about $28,000. Larson Financial Group LLC lifted its stake in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock worth $43,000 after purchasing an additional 1,016 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock worth $43,000 after acquiring an additional 781 shares in the last quarter. CWM LLC lifted its stake in shares of Intuitive Machines by 406.4% in the fourth quarter. CWM LLC now owns 2,912 shares of the company's stock worth $47,000 after acquiring an additional 2,337 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of Intuitive Machines in the fourth quarter worth about $104,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Stock Down 7.6%

Shares of Intuitive Machines stock opened at $27.47 on Wednesday. The firm has a market cap of $5.96 billion, a P/E ratio of -31.22 and a beta of 1.68. Intuitive Machines, Inc. has a fifty-two week low of $7.78 and a fifty-two week high of $46.75. The business has a 50-day moving average price of $29.31 and a 200 day moving average price of $20.92.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to analysts' expectations of $202.95 million. As a group, equities research analysts anticipate that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on LUNR. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a research note on Friday, May 15th. Wall Street Zen upgraded Intuitive Machines from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 24th. KeyCorp boosted their price target on Intuitive Machines from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $34.00 price target on shares of Intuitive Machines in a research note on Wednesday, May 20th. Finally, Canaccord Genuity Group boosted their price target on Intuitive Machines from $24.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.50.

Insider Activity at Intuitive Machines

In other news, Director William John Liquori, Jr. sold 18,321 shares of the company's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.87, for a total transaction of $547,248.27. Following the completion of the transaction, the director directly owned 68,875 shares of the company's stock, valued at approximately $2,057,296.25. This represents a 21.01% decrease in their ownership of the stock. 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 24,554 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $579,719.94. Following the transaction, the chief financial officer directly owned 401,246 shares of the company's stock, valued at $9,473,418.06. This trade represents a 5.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 1,208,436 shares of company stock valued at $30,867,376. 54.10% of the stock is owned by insiders.

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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