Lord Abbett & CO. LLC Acquires New Position in Intuitive Machines, Inc. $LUNR

Key Points

• Lord Abbett & CO. LLC acquired 308,388 shares of Intuitive Machines, Inc., valued at approximately $2,297,000, during the first quarter, bringing their ownership to 0.17% of the company.
• Intuitive Machines reported a quarterly earnings miss, with an EPS of ($0.11) against estimates of ($0.06), and revenue of $50.31 million, short of the expected $69.19 million.
• Research analysts have mixed ratings on Intuitive Machines, with several maintaining a "buy" rating, while others have downgraded the stock to "hold" or "strong sell".

Lord Abbett & CO. LLC acquired a new position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 308,388 shares of the company's stock, valued at approximately $2,297,000. Lord Abbett & CO. LLC owned about 0.17% of Intuitive Machines at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LUNR. Palisades Investment Partners LLC purchased a new stake in Intuitive Machines in the first quarter valued at $2,993,000. Bank of America Corp DE lifted its position in Intuitive Machines by 209.0% in the fourth quarter. Bank of America Corp DE now owns 57,192 shares of the company's stock valued at $1,039,000 after acquiring an additional 38,684 shares during the last quarter. ARK Investment Management LLC purchased a new stake in Intuitive Machines in the first quarter valued at $5,531,000. Hussman Strategic Advisors Inc. purchased a new stake in Intuitive Machines in the first quarter valued at $1,095,000. Finally, Geode Capital Management LLC lifted its position in Intuitive Machines by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company's stock valued at $20,437,000 after acquiring an additional 191,733 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Trading Up 4.7%

Shares of Intuitive Machines stock traded up $0.4050 on Friday, reaching $9.0450. 3,127,920 shares of the stock were exchanged, compared to its average volume of 10,424,920. Intuitive Machines, Inc. has a 1-year low of $4.50 and a 1-year high of $24.95. The business has a fifty day moving average price of $10.75 and a two-hundred day moving average price of $11.01. The firm has a market capitalization of $1.62 billion, a PE ratio of -2.79 and a beta of 1.40.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $69.19 million. Intuitive Machines has set its FY 2025 guidance at EPS. Research analysts expect that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LUNR. UBS Group reissued a "buy" rating on shares of Intuitive Machines in a research report on Monday. Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, May 13th. Cantor Fitzgerald lifted their price objective on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Craig Hallum began 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. Finally, Bank of America dropped 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. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $15.30.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 80,508 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $12.05, for a total value of $970,121.40. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 201,270 shares of company stock worth $2,481,659 in the last quarter. Corporate insiders own 39.75% of the company's stock.

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.