Renaissance Technologies LLC Takes $35.90 Million Position in Intuitive Machines, Inc. $LUNR

Renaissance Technologies LLC bought a new stake in shares of Intuitive Machines, Inc. (NASDAQ:LUNR) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,934,000 shares of the company’s stock, valued at approximately $35,895,000.

A number of other hedge funds have also made changes to their positions in the stock. Trustees of the University of Pennsylvania bought a new stake in shares of Intuitive Machines in the fourth quarter worth $52,689,000. First Trust Advisors LP boosted its stake in Intuitive Machines by 3,582.9% during the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after acquiring an additional 2,386,688 shares during the last quarter. Jump Financial LLC grew its holdings in Intuitive Machines by 5,262.9% during the 3rd quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after acquiring an additional 1,314,888 shares in the last quarter. Marshall Wace LLP grew its holdings in Intuitive Machines by 523.7% during the 4th quarter. Marshall Wace LLP now owns 1,260,459 shares of the company’s stock worth $20,457,000 after acquiring an additional 1,058,376 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of Intuitive Machines by 177.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,429,791 shares of the company’s stock worth $15,041,000 after purchasing an additional 913,650 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $20.43, for a total value of $2,899,200.87. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at $71,398,110.24. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William John Liquori, Jr. sold 18,321 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.87, for a total value of $547,248.27. Following the transaction, the director directly owned 68,875 shares of the company’s stock, valued at $2,057,296.25. This trade represents a 21.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 877,866 shares of company stock valued at $24,403,134 over the last quarter. Insiders own 54.10% of the company’s stock.

Intuitive Machines Stock Performance

Shares of NASDAQ:LUNR opened at $12.37 on Wednesday. The company’s fifty day moving average is $23.96 and its two-hundred day moving average is $22.37. Intuitive Machines, Inc. has a 1-year low of $7.78 and a 1-year high of $46.75. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -14.06 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last posted 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 firm had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. Sell-side analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a report on Wednesday, May 20th. Canaccord Genuity Group upped their price objective on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. KeyCorp increased their target price on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.