Intuitive Machines, Inc. (NASDAQ:LUNR) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 2,633.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,000 shares of the company's stock after buying an additional 158,000 shares during the period. New York State Common Retirement Fund owned 0.09% of Intuitive Machines worth $1,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LUNR. Quarry LP purchased a new position in shares of Intuitive Machines in the fourth quarter worth $44,000. Rossby Financial LCC acquired a new stake in shares of Intuitive Machines in the first quarter worth $67,000. Park Avenue Securities LLC acquired a new stake in shares of Intuitive Machines in the first quarter worth $81,000. Ancora Advisors LLC acquired a new stake in shares of Intuitive Machines in the fourth quarter worth $91,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Intuitive Machines in the first quarter worth $91,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America cut their price objective on shares of Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating on the stock in a research note on Wednesday, July 16th. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $13.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Craig Hallum assumed coverage on shares of Intuitive Machines in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 price objective on the stock. Roth Capital reaffirmed a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Finally, Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a report on Wednesday, May 14th. One equities research 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.60.

Insider Activity

In other news, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction dated 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 $4,401,888. This trade represents a 16.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kamal Seyed Ghaffarian sold 40,254 shares of Intuitive Machines stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $12.02, for a total transaction of $483,853.08. Following the completion of the sale, the director owned 3,494,768 shares in the company, valued at approximately $42,007,111.36. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 394,200 shares of company stock worth $4,752,942. Company insiders own 39.75% of the company's stock.

Intuitive Machines Stock Up 0.1%

Shares of NASDAQ LUNR traded up $0.01 during trading on Monday, hitting $12.83. The company had a trading volume of 6,353,934 shares, compared to its average volume of 7,816,779. The stock has a fifty day simple moving average of $11.23 and a two-hundred day simple moving average of $12.19. Intuitive Machines, Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $24.95. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -4.70 and a beta of 1.41.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The firm had revenue of $62.52 million for the quarter, compared to analyst estimates of $66.07 million. On average, analysts anticipate that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

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.