Palisades Investment Partners LLC Purchases Shares of 401,762 Intuitive Machines, Inc. (NASDAQ:LUNR)

Palisades Investment Partners LLC acquired a new position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 401,762 shares of the company's stock, valued at approximately $2,993,000. Intuitive Machines accounts for approximately 1.5% of Palisades Investment Partners LLC's portfolio, making the stock its 24th largest position. Palisades Investment Partners LLC owned 0.23% of Intuitive Machines at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in Intuitive Machines by 8.3% during the 4th quarter. Invesco Ltd. now owns 13,449 shares of the company's stock worth $244,000 after acquiring an additional 1,026 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Intuitive Machines by 10.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock worth $312,000 after acquiring an additional 1,566 shares during the period. Quarry LP bought a new position in Intuitive Machines during the 4th quarter worth $44,000. Bank of New York Mellon Corp increased its stake in Intuitive Machines by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company's stock worth $1,285,000 after acquiring an additional 2,499 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in Intuitive Machines by 201.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock worth $90,000 after acquiring an additional 3,300 shares during the period. Institutional investors own 72.21% of the company's stock.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 40,254 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $12.04, for a total transaction of $484,658.16. Following the sale, the director owned 3,494,768 shares in the company, valued at $42,077,006.72. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Peter Mcgrath sold 72,168 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was 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 represents a 16.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,344 shares of company stock worth $3,591,223 in the last 90 days. 39.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Canaccord Genuity Group raised their price objective on Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Benchmark reiterated a "buy" rating and issued a $16.00 price target on shares of Intuitive Machines in a research note on Tuesday, March 25th. Roth Capital reiterated a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, May 13th. B. Riley reiterated a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, March 25th. Finally, Barclays assumed coverage on Intuitive Machines in a research note on Thursday, May 22nd. They issued a "neutral" rating on the stock. 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $16.06.

Intuitive Machines Price Performance

LUNR stock traded down $0.32 during midday trading on Friday, reaching $10.86. 12,103,358 shares of the stock were exchanged, compared to its average volume of 13,002,014. The stock has a market capitalization of $1.94 billion, a PE ratio of -3.98 and a beta of 1.41. Intuitive Machines, Inc. has a 52 week low of $3.15 and a 52 week high of $24.95. The company has a fifty day moving average price of $10.87 and a 200 day moving average price of $12.81.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.10). The company had revenue of $62.52 million during the quarter, compared to analyst estimates of $66.07 million. As a group, analysts anticipate that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

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.