Intuitive Machines, Inc. $LUNR Stock Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Intuitive Machines, Inc. (NASDAQ:LUNR) by 9.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 640,283 shares of the company’s stock after purchasing an additional 54,497 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Intuitive Machines worth $9,118,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in Intuitive Machines in the second quarter valued at approximately $25,000. State of Wyoming purchased a new position in shares of Intuitive Machines during the 1st quarter worth approximately $39,000. Signaturefd LLC raised its position in shares of 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 acquiring an additional 1,302 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of 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 in the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in Intuitive Machines in the first quarter worth $59,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and reduced their target price for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Canaccord Genuity Group lowered their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. B. Riley Financial dropped their price objective on shares of Intuitive Machines from $43.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday. Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a report on Thursday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a report on Monday, September 21st. Seven analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.75.

Intuitive Machines Stock Performance

Shares of LUNR traded up $1.85 during trading hours on Friday, hitting $10.47. The company had a trading volume of 10,863,429 shares, compared to its average volume of 7,219,833. The firm has a fifty day moving average price of $13.17 and a 200-day moving average price of $19.45. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -11.02 and a beta of 1.91. Intuitive Machines, Inc. has a 52-week low of $7.78 and a 52-week high of $46.75.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Research analysts anticipate that Intuitive Machines, Inc. will post -0.60 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Steven Vontur sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the transaction, the insider directly owned 113,997 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Crain, II sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $15.05, for a total transaction of $752,500.00. Following the completion of the transaction, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $5,286,748.95. The trade was a 12.46% 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 a total of 658,711 shares of company stock worth $10,402,436 over the last 90 days. 54.10% of the stock is currently owned by insiders.

Intuitive Machines Profile

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.