Pacific Point Advisors LLC Makes New Investment in Intuitive Machines, Inc. (NASDAQ:LUNR)

Pacific Point Advisors LLC bought a new stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 30,000 shares of the company's stock, valued at approximately $224,000.

Other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in Intuitive Machines by 161,529.8% during the fourth quarter. Headlands Technologies LLC now owns 244,061 shares of the company's stock worth $4,432,000 after acquiring an additional 243,910 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Intuitive Machines during the fourth quarter worth $5,600,000. Bank of America Corp DE raised its position in Intuitive Machines by 209.0% during 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 raised its position in Intuitive Machines by 20.5% during 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. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Intuitive Machines during the first quarter worth $1,935,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Trading Up 2.9%

NASDAQ LUNR traded up $0.32 during trading hours on Thursday, reaching $11.18. The company had a trading volume of 5,457,789 shares, compared to its average volume of 12,940,800. The stock has a market capitalization of $2.00 billion, a P/E ratio of -4.10 and a beta of 1.41. Intuitive Machines, Inc. has a 1-year low of $3.15 and a 1-year high of $24.95. The stock has a 50-day moving average of $10.79 and a 200 day moving average of $12.88.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly 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. As a group, sell-side analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Activity at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 40,254 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $12.04, for a total value of $484,658.16. Following the sale, the director owned 3,494,768 shares of the company's stock, valued at $42,077,006.72. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter Mcgrath sold 72,168 shares of the firm'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 transaction of $866,016.00. Following the completion of the sale, the chief financial officer directly owned 366,824 shares in the company, valued at approximately $4,401,888. This trade represents a 16.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,344 shares of company stock worth $3,591,223. 39.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LUNR. B. Riley restated a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, March 25th. Canaccord Genuity Group upped 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. Benchmark reissued a "buy" rating and issued a $16.00 price objective on shares of Intuitive Machines in a report on Tuesday, March 25th. Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald upped their price objective on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.06.

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.