Palisades Investment Partners LLC Makes New Investment in Intuitive Machines, Inc. (NASDAQ:LUNR)

Palisades Investment Partners LLC bought a new position in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 401,762 shares of the company's stock, valued at approximately $2,993,000. Intuitive Machines makes up approximately 1.5% of Palisades Investment Partners LLC's investment portfolio, making the stock its 24th biggest position. Palisades Investment Partners LLC owned about 0.23% of Intuitive Machines at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 161,016 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total value of $1,948,293.60. Following the completion of the transaction, the director owned 3,494,768 shares in the company, valued at $42,286,692.80. This represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter Mcgrath sold 72,168 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the transaction, the chief financial officer directly 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 sold a total of 311,344 shares of company stock valued at $3,591,223 in the last 90 days. Corporate insiders own 39.75% of the company's stock.

Intuitive Machines Trading Down 3.5%

Shares of Intuitive Machines stock opened at $10.41 on Tuesday. The stock has a fifty day simple moving average of $10.70 and a 200 day simple moving average of $12.91. Intuitive Machines, Inc. has a 12-month low of $3.15 and a 12-month high of $24.95. The company has a market capitalization of $1.86 billion, a P/E ratio of -3.81 and a beta of 1.41.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced 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 business had revenue of $62.52 million during the quarter, compared to analysts' expectations of $66.07 million. On average, analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LUNR. Roth Mkm lowered their target price on Intuitive Machines from $20.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Barclays began coverage on Intuitive Machines in a research report on Thursday, May 22nd. They set a "neutral" rating on the stock. Canaccord Genuity Group upped their target price on Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. B. Riley reaffirmed a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, March 25th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.06.

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.

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