Vanguard Group Inc. Buys 717,256 Shares of Intuitive Machines, Inc. $LUNR

Key Points

• Vanguard increased its stake in Intuitive Machines by 13.3% in Q3, buying 717,256 shares to own 6,090,059 shares (about 3.41%) worth roughly $64.07 million.
• Company insiders sold heavily last quarter — including CEO Stephen Altemus selling 1,958,593 shares on Dec. 22 — with insiders selling 3,689,913 shares totaling about $62.24 million and insider ownership now at 39.75%.
• Analyst sentiment is mixed-to-positive: nine Buys, three Holds and two Sells give an average rating of "Moderate Buy" and an average price target of $17.27, while the stock trades around the mid-teens with a market cap near $3.18 billion.

Vanguard Group Inc. lifted its stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,090,059 shares of the company's stock after acquiring an additional 717,256 shares during the quarter. Vanguard Group Inc. owned approximately 3.41% of Intuitive Machines worth $64,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LUNR. GF Fund Management CO. LTD. acquired a new position in Intuitive Machines during the third quarter valued at approximately $94,000. Oppenheimer & Co. Inc. acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $116,000. Axim Planning & Wealth acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $113,000. SBI Securities Co. Ltd. raised its stake in shares of Intuitive Machines by 5.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 38,115 shares of the company's stock worth $401,000 after purchasing an additional 1,911 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Intuitive Machines by 54.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 38,832 shares of the company's stock valued at $409,000 after buying an additional 13,713 shares during the last quarter. Institutional investors own 72.21% of the company's stock.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, CEO Stephen J. Altemus sold 1,958,593 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $15.77, for a total value of $30,887,011.61. Following the transaction, the chief executive officer directly owned 1,026,402 shares of the company's stock, valued at $16,186,359.54. This represents a 65.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy Price Crain II sold 200,000 shares of the business's stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $16.04, for a total value of $3,208,000.00. Following the sale, the senior vice president owned 298,435 shares of the company's stock, valued at approximately $4,786,897.40. This represents a 40.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,689,913 shares of company stock worth $62,240,781. 39.75% of the stock is owned by company insiders.

Intuitive Machines Trading Down 0.2%

LUNR opened at $17.63 on Friday. The stock's fifty day simple moving average is $18.30 and its 200 day simple moving average is $13.31. The stock has a market cap of $3.18 billion, a PE ratio of -7.14 and a beta of 1.40. Intuitive Machines, Inc. has a 1-year low of $6.14 and a 1-year high of $23.32.

Analysts Set New Price Targets

Several research firms recently weighed in on LUNR. Cantor Fitzgerald reissued an "overweight" rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. Bank of America lifted their price objective on shares of Intuitive Machines from $8.50 to $9.50 and gave the company an "underperform" rating in a research report on Wednesday, November 19th. Roth Mkm restated a "buy" rating on shares of Intuitive Machines in a research note on Wednesday, February 25th. B. Riley Financial reaffirmed a "buy" rating on shares of Intuitive Machines in a report on Tuesday, February 17th. Finally, Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $15.50 to $22.50 and gave the company a "buy" rating in a research note on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Intuitive Machines has an average rating of "Moderate Buy" and an average price target of $17.27.

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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