Sumitomo Mitsui Trust Group Inc. Invests $1.94 Million in Intuitive Machines, Inc. (NASDAQ:LUNR)

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 259,706 shares of the company's stock, valued at approximately $1,935,000. Sumitomo Mitsui Trust Group Inc. owned 0.15% of Intuitive Machines as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of Intuitive Machines by 8.3% in the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company's stock valued at $244,000 after acquiring an additional 1,026 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Intuitive Machines by 10.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock valued at $312,000 after acquiring an additional 1,566 shares in the last quarter. Quarry LP bought a new position in shares of Intuitive Machines in the fourth quarter valued at approximately $44,000. Bank of New York Mellon Corp grew its holdings in shares of Intuitive Machines by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company's stock valued at $1,285,000 after acquiring an additional 2,499 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock valued at $90,000 after acquiring an additional 3,300 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald upped their target price on Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Roth Capital reaffirmed a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Benchmark reaffirmed a "buy" rating and issued a $16.00 target price on shares of Intuitive Machines in a report on Tuesday, March 25th. Barclays began coverage on Intuitive Machines in a report on Thursday, May 22nd. They issued a "neutral" rating for the company. Finally, B. Riley reissued a "buy" rating on shares of Intuitive Machines in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of "Moderate Buy" and an average price target of $16.06.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR traded up $0.10 during trading hours on Friday, hitting $10.81. The company's stock had a trading volume of 2,806,480 shares, compared to its average volume of 12,933,044. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -3.96 and a beta of 1.41. Intuitive Machines, Inc. has a 12 month low of $3.15 and a 12 month high of $24.95. The business has a 50-day simple moving average of $10.66 and a 200-day simple moving average of $12.93.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The business had revenue of $62.52 million during the quarter, compared to analyst estimates of $66.07 million. On average, equities research analysts forecast that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling

In other news, CFO Peter Mcgrath sold 72,168 shares of the business's stock in a transaction that occurred 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 directly owned 366,824 shares of the company's stock, valued at $4,401,888. The trade was a 16.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 40,254 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $12.04, for a total value of $484,658.16. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $42,077,006.72. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,344 shares of company stock worth $3,591,223. Insiders own 39.75% of the company's stock.

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.