Victory Capital Management Inc. Raises Stock Holdings in Intuitive Machines, Inc. (NASDAQ:LUNR)

Key Points

• Victory Capital Management Inc. significantly increased its holdings in Intuitive Machines by 885.9% in the last quarter, now owning approximately $740,000 worth of shares after acquiring an additional 89,282 shares.
• Insider transactions revealed that both Director Kamal Seyed Ghaffarian and CFO Peter Mcgrath sold significant portions of their stock, resulting in a 1.14% and 16.44% decrease in their holdings, respectively.
• Intuitive Machines reported a loss of ($0.20) EPS for the last quarter, failing to meet the consensus estimate, with analysts forecasting a 0.73 EPS for the current fiscal year.

Victory Capital Management Inc. raised its stake in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 885.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 99,360 shares of the company's stock after purchasing an additional 89,282 shares during the period. Victory Capital Management Inc. owned 0.06% of Intuitive Machines worth $740,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Palisades Investment Partners LLC bought a new stake in Intuitive Machines during the first quarter valued at about $2,993,000. Bank of America Corp DE boosted its stake in shares of Intuitive Machines by 209.0% in the fourth quarter. Bank of America Corp DE now owns 57,192 shares of the company's stock worth $1,039,000 after acquiring an additional 38,684 shares during the period. Geode Capital Management LLC boosted its stake in shares of Intuitive Machines by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company's stock worth $20,437,000 after acquiring an additional 191,733 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Intuitive Machines in the first quarter worth about $1,935,000. Finally, Pacific Point Advisors LLC bought a new position in shares of Intuitive Machines in the first quarter worth about $224,000. Institutional investors own 72.21% of the company's stock.

Intuitive Machines Trading Up 5.6%

LUNR stock traded up $0.59 during midday trading on Monday, reaching $11.20. 4,885,568 shares of the company traded hands, compared to its average volume of 8,519,910. Intuitive Machines, Inc. has a 52-week low of $3.15 and a 52-week high of $24.95. The business has a 50 day moving average of $11.21 and a 200-day moving average of $12.00.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.10). The business had revenue of $62.52 million during the quarter, compared to analyst estimates of $66.07 million. Research analysts predict that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Machines 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 transaction of $543,026.46. Following the sale, the director directly owned 3,494,768 shares in the company, valued at $47,144,420.32. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Peter Mcgrath sold 72,168 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the sale, the chief financial officer owned 366,824 shares in the company, valued at approximately $4,401,888. This trade represents a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 434,454 shares of company stock worth $5,295,969. Company insiders own 39.75% of the company's stock.

Analyst Ratings Changes

LUNR has been the subject of a number of recent analyst reports. Bank of America dropped their price objective on Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating for the company in a research note on Wednesday, July 16th. Cantor Fitzgerald upped their price objective on Intuitive Machines from $13.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Canaccord Genuity Group upped their price objective on Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Craig Hallum began coverage on Intuitive Machines in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 price objective for the company. Finally, Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.60.

Intuitive Machines Company 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.