Nikko Asset Management Americas Inc. Makes New Investment in Intuitive Machines, Inc. (NASDAQ:LUNR)

Key Points

• Nikko Asset Management Americas Inc. acquired 259,706 shares of Intuitive Machines, Inc. valued at approximately $1,930,000 in the first quarter, representing a 0.15% stake in the company.
• Institutional investors and hedge funds own 72.21% of Intuitive Machines' stock, indicating strong investment interest in the company.
• Intuitive Machines reported a quarterly earnings miss with earnings per share of ($0.20), below the consensus estimate of ($0.10), and had revenue of $62.52 million for the quarter.

Nikko Asset Management Americas Inc. bought a new position in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 259,706 shares of the company's stock, valued at approximately $1,930,000. Nikko Asset Management Americas Inc. owned approximately 0.15% of Intuitive Machines at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LUNR. Two Sigma Investments LP acquired a new stake in shares of Intuitive Machines in the fourth quarter worth $33,255,000. D. E. Shaw & Co. Inc. raised its stake in Intuitive Machines by 3,991.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock valued at $21,102,000 after purchasing an additional 1,133,581 shares during the last quarter. Vanguard Group Inc. raised its stake in Intuitive Machines by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock valued at $73,503,000 after purchasing an additional 1,017,706 shares during the last quarter. Renaissance Technologies LLC raised its stake in Intuitive Machines by 99.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock valued at $22,170,000 after purchasing an additional 609,118 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Intuitive Machines during the 4th quarter valued at $9,133,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America lowered their price target on shares of Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating on the stock in a report on Wednesday, July 16th. Craig Hallum initiated coverage on shares of Intuitive Machines in a report on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 target price on the stock. Barclays initiated coverage on shares of Intuitive Machines in a report on Thursday, May 22nd. They issued a "neutral" rating on the stock. Canaccord Genuity Group upped their target price on shares of Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, 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 report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.60.

Intuitive Machines Trading Down 0.9%

Shares of NASDAQ:LUNR traded down $0.11 during mid-day trading on Wednesday, reaching $11.64. The stock had a trading volume of 2,224,852 shares, compared to its average volume of 10,589,434. The firm has a market cap of $2.08 billion, a PE ratio of -4.26 and a beta of 1.41. The firm has a 50 day simple moving average of $11.22 and a two-hundred day simple moving average of $12.18. Intuitive Machines, Inc. has a twelve month low of $3.15 and a twelve month high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted 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 firm had revenue of $62.52 million for the quarter, compared to the consensus estimate of $66.07 million. On average, equities analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, CFO Peter Mcgrath sold 72,168 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total transaction of $866,016.00. Following the completion of the transaction, the chief financial officer owned 366,824 shares of the company's stock, valued at approximately $4,401,888. The trade was a 16.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 40,254 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $12.02, for a total value of $483,853.08. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at approximately $42,007,111.36. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 394,200 shares of company stock valued at $4,752,942. 39.75% of the stock is currently owned by company insiders.

About Intuitive Machines

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.