Raiffeisen Bank International AG Makes New Investment in Intuitive Machines, Inc. $LUNR

Key Points

• Raiffeisen Bank International AG purchased 170,000 shares of Intuitive Machines in the second quarter, valued at approximately $3.6 million. Institutional investors collectively own 72.21% of the company.
• Intuitive Machines reported a quarterly loss of $0.29 per share, missing the $0.09 consensus estimate, while revenue of $206.17 million also fell short of expectations. Shares recently opened at $14.81, well below their 52-week high of $46.75.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $30.50, although insiders sold more than 12.4 million shares worth approximately $165.4 million over the past quarter.

Raiffeisen Bank International AG purchased a new stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 170,000 shares of the company's stock, valued at approximately $3,565,000. Raiffeisen Bank International AG owned 0.08% of Intuitive Machines as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Nykredit A S bought a new stake in shares of Intuitive Machines in the second quarter worth $25,000. Headlands Technologies LLC acquired a new position in Intuitive Machines during the 2nd quarter worth about $471,000. Tema ETFs LLC grew its position in shares of Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company's stock valued at $66,418,000 after buying an additional 3,102,854 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Intuitive Machines by 17.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 49,400 shares of the company's stock valued at $1,057,000 after buying an additional 7,200 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company's stock valued at $34,948,000 after buying an additional 1,231,188 shares during the period. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR opened at $14.81 on Friday. Intuitive Machines, Inc. has a 1 year low of $7.78 and a 1 year high of $46.75. The business's 50-day moving average is $15.98 and its 200-day moving average is $21.72. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -15.59 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. Analysts anticipate that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Analyst Ratings Changes

LUNR has been the subject of a number of analyst reports. Wall Street Zen upgraded Intuitive Machines from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. Zacks Research raised shares of Intuitive Machines from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Roth Capital set a $30.00 price target on shares of Intuitive Machines in a report on Thursday, August 13th. B. Riley Financial lowered their price target on shares of Intuitive Machines from $45.00 to $43.00 and set a "buy" rating for the company in a report on Friday, August 14th. Finally, Stifel Nicolaus upgraded shares of Intuitive Machines from a "hold" rating to a "buy" rating and dropped their price target for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Intuitive Machines presently has a consensus rating of "Moderate Buy" and an average target price of $30.50.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Crain, II sold 150,000 shares of Intuitive Machines stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the completion of the sale, the senior vice president owned 351,279 shares in the company, valued at $7,682,471.73. The trade was a 29.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at $1,838,771.61. The trade was a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 12,407,363 shares of company stock worth $165,432,504. Corporate insiders own 54.10% of the company's stock.

Intuitive Machines Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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