Concurrent Investment Advisors LLC Makes New $173,000 Investment in Intuitive Machines, Inc. (NASDAQ:LUNR)

Concurrent Investment Advisors LLC purchased a new position in Intuitive Machines, Inc. (NASDAQ:LUNR) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 23,200 shares of the company’s stock, valued at approximately $173,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC lifted its position in shares of Intuitive Machines by 161,529.8% in the fourth quarter. Headlands Technologies LLC now owns 244,061 shares of the company’s stock worth $4,432,000 after buying an additional 243,910 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Intuitive Machines in the fourth quarter worth about $5,600,000. Bank of America Corp DE lifted its position in shares of Intuitive Machines by 209.0% in the fourth quarter. Bank of America Corp DE now owns 57,192 shares of the company’s stock worth $1,039,000 after buying an additional 38,684 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intuitive Machines by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock worth $20,437,000 after buying an additional 191,733 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Intuitive Machines in the first quarter worth about $1,935,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 161,016 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total value of $1,948,293.60. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $42,286,692.80. This represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Peter Mcgrath sold 72,168 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the completion of the sale, the chief financial officer owned 366,824 shares in the company, valued at approximately $4,401,888. This represents a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,344 shares of company stock worth $3,591,223 over the last 90 days. Corporate insiders own 39.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LUNR shares. Barclays assumed coverage on Intuitive Machines in a research report on Thursday, May 22nd. They issued a “neutral” rating for the company. Canaccord Genuity Group boosted their price objective on Intuitive Machines from $21.00 to $21.50 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Cantor Fitzgerald boosted their price objective on Intuitive Machines from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Roth Capital reissued a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, May 13th. Finally, B. Riley reissued a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Machines currently has an average rating of “Moderate Buy” and an average price target of $16.06.

Intuitive Machines Stock Down 2.9%

Shares of LUNR opened at $10.86 on Monday. Intuitive Machines, Inc. has a 12-month low of $3.15 and a 12-month high of $24.95. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -3.98 and a beta of 1.41. The stock’s 50-day moving average price is $10.87 and its 200 day moving average price is $12.74.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The company had revenue of $62.52 million during the quarter, compared to analysts’ expectations of $66.07 million. Equities research analysts expect that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Intuitive Machines Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.