Sumitomo Mitsui Trust Group Inc. Makes New Investment in Intuitive Machines, Inc. (NASDAQ:LUNR)

Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rhumbline Advisers lifted its stake in Intuitive Machines by 15.1% in the 4th quarter. Rhumbline Advisers now owns 43,648 shares of the company's stock worth $793,000 after purchasing an additional 5,735 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Intuitive Machines by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company's stock worth $1,285,000 after purchasing an additional 2,499 shares during the period. Jones Financial Companies Lllp lifted its position in Intuitive Machines by 751.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock valued at $70,000 after acquiring an additional 3,381 shares during the period. Steward Partners Investment Advisory LLC lifted its position 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 valued at $90,000 after acquiring an additional 3,300 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Intuitive Machines by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 109,761 shares of the company's stock valued at $1,993,000 after acquiring an additional 5,970 shares during the period. 72.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LUNR has been the subject of a number of research analyst reports. 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. Canaccord Genuity Group boosted their target price on shares of Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Cantor Fitzgerald upped their price target on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Roth Capital restated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Finally, B. Riley restated 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 assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Intuitive Machines currently has an average rating of "Moderate Buy" and an average target price of $16.06.

Intuitive Machines Price Performance

Shares of LUNR stock traded up $0.27 during trading hours on Tuesday, reaching $10.68. 6,139,954 shares of the stock were exchanged, compared to its average volume of 12,956,021. The firm has a market capitalization of $1.91 billion, a P/E ratio of -3.91 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's fifty day moving average is $10.74 and its two-hundred day moving average is $12.89.

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

Insider Buying and Selling at Intuitive Machines

In related news, CFO Peter Mcgrath sold 72,168 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the completion of the transaction, the chief financial officer owned 366,824 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $12.10, for a total transaction of $1,948,293.60. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at approximately $42,286,692.80. This represents a 4.40% 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 valued at $3,591,223 in the last ninety days. Corporate insiders own 39.75% of the company's stock.

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.