Intuitive Machines (NASDAQ:LUNR) Major Shareholder Sells $147,602,399.76 in Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the transaction, the insider owned 11,495,514 shares in the company, valued at approximately $147,602,399.76. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intuitive Machines Price Performance

LUNR opened at $12.34 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of -14.02 and a beta of 1.78. The business’s 50-day moving average is $22.56 and its two-hundred day moving average is $22.20. Intuitive Machines, Inc. has a 1 year low of $7.78 and a 1 year high of $46.75.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) 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. As a group, sell-side analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Institutional Trading of Intuitive Machines

Several large investors have recently bought and sold shares of the stock. Invesco Ltd. increased its stake in Intuitive Machines by 19.7% during the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after purchasing an additional 2,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Intuitive Machines by 43.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock worth $184,000 after buying an additional 7,528 shares during the period. Caxton Associates LLP acquired a new stake in shares of Intuitive Machines during the first quarter worth $139,000. Creative Planning grew its holdings in shares of Intuitive Machines by 29.3% during the second quarter. Creative Planning now owns 30,407 shares of the company’s stock valued at $331,000 after buying an additional 6,886 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Intuitive Machines by 15.3% during the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock valued at $205,000 after buying an additional 2,506 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Analyst Upgrades and Downgrades

LUNR has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Roth Capital raised their price objective on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Canaccord Genuity Group boosted their target price on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. Finally, Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a research report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.31.

Intuitive Machines Company Profile

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.