AlphaQuest LLC Raises Stake in Intuitive Machines, Inc. $LUNR

AlphaQuest LLC boosted its holdings in shares of Intuitive Machines, Inc. (NASDAQ:LUNR) by 238.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,143 shares of the company’s stock after buying an additional 44,483 shares during the quarter. AlphaQuest LLC’s holdings in Intuitive Machines were worth $664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LUNR. Voya Investment Management LLC increased its stake in shares of Intuitive Machines by 56.1% in the third quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock worth $27,948,000 after acquiring an additional 954,778 shares during the period. Geode Capital Management LLC boosted its holdings in Intuitive Machines by 78.6% in the second quarter. Geode Capital Management LLC now owns 2,593,135 shares of the company’s stock valued at $28,191,000 after purchasing an additional 1,141,454 shares during the last quarter. Bank of America Corp DE grew its position in Intuitive Machines by 3.3% during the 2nd quarter. Bank of America Corp DE now owns 2,261,946 shares of the company’s stock worth $24,587,000 after purchasing an additional 72,422 shares during the period. ARK Investment Management LLC raised its stake in shares of Intuitive Machines by 56.1% during the 2nd quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock valued at $12,596,000 after buying an additional 416,337 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Intuitive Machines by 1,036.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 541,037 shares of the company’s stock valued at $5,881,000 after buying an additional 493,446 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR opened at $19.61 on Wednesday. The business’s 50 day moving average price is $15.88 and its 200-day moving average price is $12.31. Intuitive Machines, Inc. has a 1 year low of $6.14 and a 1 year high of $23.32. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -7.94 and a beta of 1.37.

Analysts Set New Price Targets

Several research firms recently commented on LUNR. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on Intuitive Machines and gave the stock a “buy” rating in a research report on Friday, October 17th. Stifel Nicolaus set a $20.00 target price on shares of Intuitive Machines and gave the company a “hold” rating in a report on Friday, January 9th. Canaccord Genuity Group boosted 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Nine equities 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’s stock. According to data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus target price of $17.27.

Insiders Place Their Bets

In related news, Director Michael Blitzer purchased 141,080 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average price of $9.27 per share, for a total transaction of $1,307,811.60. Following the transaction, the director directly owned 1,831,248 shares in the company, valued at approximately $16,975,668.96. This trade represents a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 200,000 shares of Intuitive Machines stock in a transaction dated 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 completion of the sale, the senior vice president owned 298,435 shares in the company, valued at approximately $4,786,897.40. The trade was a 40.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,550,000 shares of company stock worth $59,924,826. Company insiders own 39.75% of the company’s stock.

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.