Intuitive Machines (NASDAQ:LUNR) Major Shareholder Sells 11,495,514 Shares

Key Points

• Major shareholder Advent International L.P. sold 11.5 million Intuitive Machines shares at an average $12.84 each, generating approximately $147.6 million. The transaction reduced its position by 50%, leaving it with the same number of shares.
• Intuitive Machines shares fell $0.98 to $11.39, well below their 50-day and 200-day moving averages. The company also reported a quarterly EPS loss of $0.25, missing estimates, while revenue of $186.7 million came in below forecasts.
• Analyst sentiment remains mixed: seven analysts rate the stock Buy, two Hold, and two Sell, producing an average rating of Hold and an average price target of $33.31.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) major shareholder International L.P. Advent sold 11,495,514 shares of the 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 sale, the insider directly owned 11,495,514 shares in the company, valued at $147,602,399.76. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Intuitive Machines Price Performance

Intuitive Machines stock traded down $0.98 during trading hours on Wednesday, reaching $11.39. The stock had a trading volume of 7,784,728 shares, compared to its average volume of 13,033,756. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -12.94 and a beta of 1.78. The business's 50 day moving average price is $23.96 and its 200-day moving average price is $22.37. Intuitive Machines, Inc. has a 52 week low of $7.78 and a 52 week high of $46.75.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. On average, sell-side analysts forecast that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently added to or reduced their stakes in LUNR. International Assets Investment Management LLC acquired a new position in shares of Intuitive Machines during the 4th quarter worth approximately $28,000. State of Wyoming acquired a new stake in shares of Intuitive Machines in the first quarter valued at approximately $39,000. GAMMA Investing LLC increased its holdings in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock valued at $43,000 after purchasing an additional 781 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of 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 purchasing an additional 1,016 shares during the last quarter. Finally, CWM LLC lifted its position in Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company's stock worth $47,000 after buying an additional 2,337 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Analysts Set New Price Targets

LUNR has been the subject of several analyst reports. Roth Capital boosted their price objective on Intuitive Machines from $25.00 to $35.00 and gave the company a "buy" rating in a report on Friday, April 17th. Cantor Fitzgerald raised their target price on Intuitive Machines from $26.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday, May 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intuitive Machines in a research report on Friday, July 17th. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a report on Friday, May 15th. Finally, Canaccord Genuity Group upped their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $33.31.

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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