54,497 Intuitive Machines, Inc. $LUNR Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in Intuitive Machines, Inc. (NASDAQ:LUNR) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 640,283 shares of the company’s stock after acquiring an additional 54,497 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Intuitive Machines were worth $9,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LUNR. Nykredit A S bought a new position in Intuitive Machines during the second quarter valued at approximately $25,000. Signaturefd LLC boosted its holdings in Intuitive Machines by 119.7% in the third 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 last quarter. State of Wyoming bought a new stake in Intuitive Machines in the 1st quarter worth approximately $39,000. PNC Financial Services Group Inc. grew its position in Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after purchasing an additional 712 shares during the period. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in Intuitive Machines in the 1st quarter worth approximately $59,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Machines

In other news, insider Steven Vontur sold 3,050 shares of the business’s 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 completion of the sale, the insider owned 113,997 shares of the company’s stock, valued at $1,838,771.61. The trade was a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.17, for a total value of $4,324,634.16. Following the completion of the sale, the director owned 3,494,768 shares of the company’s stock, valued at $56,510,398.56. This trade represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Intuitive Machines Price Performance

Shares of LUNR traded up $1.85 on Friday, reaching $10.47. The company’s stock had a trading volume of 10,863,429 shares, compared to its average volume of 7,219,833. The stock has a market capitalization of $2.40 billion, a P/E ratio of -11.02 and a beta of 1.91. The stock’s 50 day simple moving average is $13.17 and its two-hundred day simple moving average is $19.45. Intuitive Machines, Inc. has a 12-month low of $7.78 and a 12-month high of $46.75.

Intuitive Machines (NASDAQ:LUNR) 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. Analysts expect that Intuitive Machines, Inc. will post -0.60 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on LUNR. Bank of America boosted their target price on shares of Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, October 15th. Canaccord Genuity Group cut their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Finally, Roth Capital set a $30.00 target price on Intuitive Machines in a report on Thursday, August 13th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.75.

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.