Intuitive Machines, Inc. $LUNR Shares Sold by Sanders Morris Harris LLC

Key Points

• Sanders Morris Harris LLC reduced its stake in Intuitive Machines, Inc. by 41% in the second quarter, selling 20,155 shares and now holding 29,000 shares valued at $315,000.
• Intuitive Machines recently faced negative analyst ratings, with Zacks Research downgrading it to a "strong sell" and Bank of America lowering its price target from $10.50 to $8.50, indicating an underperform sentiment.
• Director Kamal Seyed Ghaffarian sold 40,254 shares on July 28, resulting in a 1.14% decrease in ownership, while company insiders collectively own 39.75% of the stock.

Sanders Morris Harris LLC lessened its stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 41.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,000 shares of the company's stock after selling 20,155 shares during the quarter. Sanders Morris Harris LLC's holdings in Intuitive Machines were worth $315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rossby Financial LCC purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $67,000. Sigma Planning Corp purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $78,000. Philadelphia Trust Co. increased its stake in shares of Intuitive Machines by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock valued at $82,000 after purchasing an additional 1,000 shares in the last quarter. IPG Investment Advisors LLC purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $89,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $91,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Insider Activity

In related news, Director Kamal Seyed Ghaffarian sold 40,254 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $13.49, for a total value of $543,026.46. Following the transaction, the director directly owned 3,494,768 shares in the company, valued at approximately $47,144,420.32. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 39.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

LUNR has been the subject of several recent analyst reports. Zacks Research upgraded Intuitive Machines to a "strong sell" rating in a research note on Monday, August 11th. Bank of America cut their price target on Intuitive Machines from $10.50 to $8.50 and set an "underperform" rating for the company in a research note on Monday, August 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Intuitive Machines in a research note on Wednesday, October 8th. Canaccord Genuity Group cut their price objective on Intuitive Machines from $19.00 to $18.50 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Finally, Craig Hallum initiated coverage on Intuitive Machines in a research note on Tuesday, July 22nd. They set a "buy" rating and a $17.00 price objective for the company. Nine investment 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.44.

Intuitive Machines Price Performance

LUNR stock opened at $12.89 on Tuesday. The business has a 50 day simple moving average of $10.03 and a 200-day simple moving average of $10.21. The firm has a market capitalization of $2.30 billion, a PE ratio of -3.98 and a beta of 1.41. Intuitive Machines, Inc. has a 1 year low of $6.14 and a 1 year high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The firm had revenue of $50.31 million during the quarter, compared to analyst estimates of $69.19 million. Intuitive Machines has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Intuitive Machines 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.

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