Lbp Am Sa Has $2.70 Million Stock Holdings in Intuitive Machines, Inc. $LUNR

Key Points

• Lbp Am Sa increased its stake in Intuitive Machines by 87.2% in Q3 to 256,417 shares worth $2.70 million, representing about 0.14% of the company.
• CEO Stephen J. Altemus sold 1,958,593 shares at an average of $15.77 on Dec. 22 for roughly $30.9 million, reducing his position by 65.6%; insiders sold 3.55 million shares (~$59.9 million) over the last three months while corporate insiders still own 39.75%.
• Analysts have an average rating of "Moderate Buy" with a mean target of $16.73 (several firms raised targets to ~$18–$20), and the stock trades with a market cap of $3.66 billion and a negative trailing PE of -8.21.

Lbp Am Sa raised its stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 87.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,417 shares of the company's stock after purchasing an additional 119,419 shares during the period. Lbp Am Sa owned 0.14% of Intuitive Machines worth $2,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of LUNR. Y Intercept Hong Kong Ltd raised its holdings in Intuitive Machines by 10.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 128,300 shares of the company's stock valued at $1,350,000 after acquiring an additional 12,003 shares during the period. Palisades Investment Partners LLC grew its position in shares of Intuitive Machines by 1.9% in the third quarter. Palisades Investment Partners LLC now owns 398,571 shares of the company's stock valued at $4,193,000 after purchasing an additional 7,331 shares during the last quarter. Olympiad Research LP increased its stake in shares of Intuitive Machines by 49.5% during the third quarter. Olympiad Research LP now owns 26,083 shares of the company's stock worth $274,000 after purchasing an additional 8,638 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Intuitive Machines during the 3rd quarter worth approximately $109,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Intuitive Machines by 36.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,752 shares of the company's stock valued at $5,121,000 after purchasing an additional 129,896 shares during the period. Institutional investors own 72.21% of the company's stock.

Insider Buying and Selling at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 1,958,593 shares of the company's stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $15.77, for a total value of $30,887,011.61. Following the sale, the chief executive officer owned 1,026,402 shares in the company, valued at $16,186,359.54. This represents a 65.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Blitzer acquired 141,080 shares of the company's stock in a transaction on Wednesday, November 12th. The shares were bought at an average price of $9.27 per share, for a total transaction of $1,307,811.60. Following the completion of the purchase, the director owned 1,831,248 shares in the company, valued at approximately $16,975,668.96. This represents a 8.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 3,550,000 shares of company stock valued at $59,924,826. Corporate insiders own 39.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LUNR. B. Riley increased their price objective on Intuitive Machines from $14.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intuitive Machines in a research note on Thursday, January 22nd. Stifel Nicolaus set a $20.00 target price on shares of Intuitive Machines and gave the stock a "hold" rating in a report on Friday, January 9th. Roth Mkm reissued a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft set a $18.00 price objective on Intuitive Machines and gave the stock a "buy" rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.73.

Intuitive Machines Stock Up 10.2%

Shares of NASDAQ LUNR opened at $20.29 on Wednesday. Intuitive Machines, Inc. has a twelve month low of $6.14 and a twelve month high of $23.89. The firm has a fifty day simple moving average of $14.75 and a 200 day simple moving average of $12.01. The company has a market capitalization of $3.66 billion, a PE ratio of -8.21 and a beta of 1.37.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.