Zazove Associates LLC Acquires Shares of 97,500 Intuitive Machines, Inc. (NASDAQ:LUNR)

Key Points

• Zazove Associates LLC purchased 97,500 shares of Intuitive Machines, Inc. (NASDAQ:LUNR) for approximately $726,000, representing 0.05% ownership as noted in their recent SEC filing.
• Institutional investors currently hold 72.21% of Intuitive Machines' stock, with significant increases in stakes from firms like JPMorgan Chase and Geode Capital Management.
• Analysts have mixed ratings on Intuitive Machines, with a consensus of "Moderate Buy" and a consensus price target of $15.35, despite recent quarterly earnings falling short of expectations.

Zazove Associates LLC bought a new position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 97,500 shares of the company's stock, valued at approximately $726,000. Zazove Associates LLC owned 0.05% of Intuitive Machines as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Intuitive Machines during the 4th quarter worth approximately $44,000. Rossby Financial LCC purchased a new position in shares of Intuitive Machines during the 1st quarter worth approximately $67,000. Sigma Planning Corp purchased a new position in shares of Intuitive Machines during the 1st quarter worth approximately $78,000. Park Avenue Securities LLC bought a new stake in shares of Intuitive Machines in the 1st quarter worth approximately $81,000. Finally, IPG Investment Advisors LLC bought a new stake in shares of Intuitive Machines in the 1st quarter worth approximately $89,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 40,254 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.49, for a total value of $543,026.46. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at $47,144,420.32. This represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders sold 201,270 shares of company stock valued at $2,481,659. Corporate insiders own 39.75% of the company's stock.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR traded up $0.10 during midday trading on Friday, hitting $9.09. 12,375,583 shares of the stock traded hands, compared to its average volume of 9,725,572. The firm has a 50-day moving average of $10.95 and a two-hundred day moving average of $11.30. The firm has a market capitalization of $1.62 billion, a P/E ratio of -2.81 and a beta of 1.40. Intuitive Machines, Inc. has a one year low of $3.92 and a one year high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $50.31 million during the quarter, compared to analysts' expectations of $69.19 million. Equities analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LUNR. Cantor Fitzgerald boosted their price target on Intuitive Machines from $13.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Bank of America dropped their price target on Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating on the stock in a research report on Wednesday, July 16th. Barclays began coverage on Intuitive Machines in a research report on Thursday, May 22nd. They issued a "neutral" rating on the stock. Canaccord Genuity Group dropped their price target on Intuitive Machines from $21.50 to $19.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Craig Hallum started coverage on Intuitive Machines in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $15.35.

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.