Renaissance Technologies LLC Makes New $35.90 Million Investment in Intuitive Machines, Inc. $LUNR

Renaissance Technologies LLC purchased a new position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,934,000 shares of the company's stock, valued at approximately $35,895,000. Renaissance Technologies LLC owned approximately 0.89% of Intuitive Machines at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Calamos Advisors LLC acquired a new stake in shares of Intuitive Machines during the first quarter worth $2,984,000. Jefferies Financial Group Inc. purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at $717,000. Fifth Third Bancorp purchased a new stake in shares of Intuitive Machines in the first quarter valued at $4,314,000. Trustees of the University of Pennsylvania acquired a new position in Intuitive Machines in the fourth quarter valued at $52,689,000. Finally, SBI Securities Co. Ltd. increased its stake in Intuitive Machines by 403.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 191,783 shares of the company's stock valued at $3,113,000 after purchasing an additional 153,668 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company's stock.

Insider Activity

In other news, Director William John Liquori, Jr. sold 18,321 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total value of $547,248.27. Following the completion of the transaction, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. This represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the sale, the director directly owned 3,494,768 shares of the company's stock, valued at approximately $71,398,110.24. The trade was a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 877,866 shares of company stock worth $24,403,134. 54.10% of the stock is currently owned by company insiders.

Intuitive Machines Stock Performance

Intuitive Machines stock opened at $12.37 on Wednesday. The firm has a market capitalization of $2.68 billion, a PE ratio of -14.06 and a beta of 1.78. Intuitive Machines, Inc. has a one year low of $7.78 and a one year high of $46.75. The stock's 50 day moving average price is $23.96 and its 200 day moving average price is $22.37.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. On average, analysts forecast that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LUNR has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price target on Intuitive Machines from $24.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. B. Riley Financial reaffirmed a "buy" rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. KeyCorp increased their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $34.00 target price on shares of Intuitive Machines in a report on Wednesday, May 20th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $33.31.

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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