TD Waterhouse Canada Inc. Sells 119,213 Shares of Intuitive Machines, Inc. $LUNR

Key Points

• TD Waterhouse Canada cut its Intuitive Machines stake by 47.4% in the second quarter, selling 119,213 shares and retaining 132,092 shares worth approximately $2.67 million.
• Insider selling was significant, with insiders selling about 12.39 million shares worth $164.9 million over the past 90 days. Institutional investors still own 72.21% of the company, while insiders hold 54.10%.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $30.50 price target, although the company recently missed quarterly earnings and revenue estimates.

TD Waterhouse Canada Inc. reduced its position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 47.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,092 shares of the company's stock after selling 119,213 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.06% of Intuitive Machines worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in shares of Intuitive Machines by 34.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock worth $52,000 after purchasing an additional 712 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in Intuitive Machines by 9.9% in the first quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company's stock valued at $206,000 after buying an additional 1,000 shares during the period. Larson Financial Group LLC lifted its stake in Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock valued at $43,000 after buying an additional 1,016 shares during the period. Nykredit A S bought a new position in Intuitive Machines during the second quarter worth about $25,000. Finally, Handelsbanken Fonder AB grew its position in shares of Intuitive Machines by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 34,400 shares of the company's stock worth $558,000 after buying an additional 1,200 shares during the period. Institutional investors own 72.21% of the company's stock.

Insider Buying and Selling at Intuitive Machines

In related news, major shareholder International L.P. Advent sold 11,495,514 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total value of $147,602,399.76. Following the completion of the transaction, the insider owned 11,495,514 shares of the company's stock, valued at approximately $147,602,399.76. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Vontur sold 3,050 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $16.13, for a total transaction of $49,196.50. Following the sale, the insider directly owned 113,997 shares in the company, valued at $1,838,771.61. This trade represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 12,389,042 shares of company stock worth $164,885,256. Company insiders own 54.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on LUNR shares. B. Riley Financial lowered their price target on Intuitive Machines from $45.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Intuitive Machines from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. Bank of America raised their price objective on Intuitive Machines from $11.00 to $13.00 and gave the stock an "underperform" rating in a research note on Monday, August 31st. Finally, Cantor Fitzgerald lowered their price target on Intuitive Machines from $43.00 to $32.00 and set an "overweight" rating for the company in a report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR opened at $14.81 on Tuesday. The company has a fifty day moving average price of $15.86 and a 200 day moving average price of $21.75. Intuitive Machines, Inc. has a 1-year low of $7.78 and a 1-year high of $46.75. The firm has a market cap of $3.39 billion, a PE ratio of -15.59 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. Equities research analysts forecast that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

About Intuitive Machines

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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