Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 37.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 424,787 shares of the company's stock after buying an additional 116,435 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.24% of Intuitive Machines worth $3,165,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LUNR. Quarry LP acquired a new stake in shares of Intuitive Machines during the fourth quarter worth about $44,000. Rossby Financial LCC purchased a new position in Intuitive Machines during the first quarter valued at approximately $67,000. Sigma Planning Corp purchased a new position in Intuitive Machines during the first quarter valued at approximately $78,000. Park Avenue Securities LLC purchased a new position in Intuitive Machines during the first quarter valued at approximately $81,000. Finally, IPG Investment Advisors LLC purchased a new position in Intuitive Machines during the first quarter valued at approximately $89,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Intuitive Machines
In other news, Director Kamal Seyed Ghaffarian sold 80,508 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $12.05, for a total value of $970,121.40. Following the transaction, the director owned 3,494,768 shares of the company's stock, valued at $42,111,954.40. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 201,270 shares of company stock valued at $2,481,659. Corporate insiders own 39.75% of the company's stock.
Wall Street Analysts Forecast Growth
LUNR has been the subject of a number of recent analyst reports. Bank of America cut their price objective on Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating for the company in a research report on Wednesday, July 16th. Canaccord Genuity Group cut their price objective on Intuitive Machines from $21.50 to $19.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Zacks Research upgraded Intuitive Machines to a "strong sell" rating in a research report on Monday. Craig Hallum started coverage on Intuitive Machines in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 price objective for the company. Finally, Barclays started coverage on Intuitive Machines in a research note on Thursday, May 22nd. They issued a "neutral" rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.35.
Check Out Our Latest Report on Intuitive Machines
Intuitive Machines Trading Up 1.1%
NASDAQ LUNR traded up $0.10 on Friday, reaching $9.09. 12,375,583 shares of the company were exchanged, compared to its average volume of 10,559,181. The business's fifty day moving average price is $11.00 and its 200 day moving average price is $11.45. The stock has a market capitalization of $1.62 billion, a P/E ratio of -2.81 and a beta of 1.40. Intuitive Machines, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $24.95.
Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The business had revenue of $50.31 million during the quarter, compared to the consensus estimate of $69.19 million. Equities research analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.
About Intuitive Machines
(
Free Report)
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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