Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Intuitive Machines, Inc. (NASDAQ:LUNR – Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,932,960 shares of the company’s stock, valued at approximately $98,725,000.
Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in Intuitive Machines by 34.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after purchasing an additional 712 shares during the period. Nykredit A S purchased a new stake in Intuitive Machines in the second quarter worth approximately $25,000. The Manufacturers Life Insurance Company grew its position in Intuitive Machines by 2.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock worth $996,000 after purchasing an additional 1,235 shares during the period. Signaturefd LLC grew its position in Intuitive Machines by 119.7% in the 3rd quarter. Signaturefd LLC now owns 2,390 shares of the company’s stock worth $34,000 after purchasing an additional 1,302 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Intuitive Machines by 32.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,919 shares of the company’s stock worth $99,000 after purchasing an additional 1,711 shares during the period. 72.21% of the stock is currently owned by institutional investors.
Intuitive Machines Trading Down 8.6%
LUNR opened at $10.67 on Friday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -11.23 and a beta of 1.86. The company’s 50 day moving average is $13.86 and its 200 day moving average is $19.70. Intuitive Machines, Inc. has a 12-month low of $7.78 and a 12-month high of $46.75.
Intuitive Machines (NASDAQ:LUNR – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. As a group, analysts predict that Intuitive Machines, Inc. will post -0.60 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently weighed in on LUNR. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a report on Monday, September 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research report on Thursday, August 13th. Finally, Stifel Nicolaus raised Intuitive Machines from a “hold” rating to a “buy” rating and lowered their target price for the company from $32.00 to $26.00 in a report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Intuitive Machines currently has an average rating of “Hold” and a consensus price target of $30.50.
Check Out Our Latest Report on LUNR
Insider Transactions at Intuitive Machines
In other news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at $1,838,771.61. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 267,448 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the sale, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $56,510,398.56. The trade was a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 658,711 shares of company stock worth $10,402,436 in the last 90 days. 54.10% of the stock is currently owned by insiders.
About Intuitive Machines
Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.
Intuitive Machines is a major participant in NASA’s Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.
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