Comerica Bank Makes New Investment in Intuitive Machines, Inc. $LUNR

Comerica Bank 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 and Exchange Commission (SEC). The firm purchased 23,171 shares of the company’s stock, valued at approximately $173,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Intuitive Machines by 27.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 140,208 shares of the company’s stock worth $1,045,000 after buying an additional 30,447 shares during the last quarter. Swiss National Bank purchased a new position in shares of Intuitive Machines in the first quarter worth $1,203,000. Palisades Investment Partners LLC purchased a new position in shares of Intuitive Machines in the first quarter worth $2,993,000. Jump Financial LLC purchased a new position in shares of Intuitive Machines in the first quarter worth $1,900,000. Finally, Bank of America Corp DE lifted its stake in Intuitive Machines by 209.0% during the 4th quarter. Bank of America Corp DE now owns 57,192 shares of the company’s stock valued at $1,039,000 after acquiring an additional 38,684 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Down 1.3%

LUNR opened at $8.30 on Thursday. Intuitive Machines, Inc. has a twelve month low of $5.34 and a twelve month high of $24.95. The company has a 50-day moving average price of $10.23 and a 200 day moving average price of $9.97. The company has a market cap of $1.48 billion, a PE ratio of -2.56 and a beta of 1.38.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The business had revenue of $50.31 million for the quarter, compared to the consensus estimate of $69.19 million. Intuitive Machines has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on LUNR. Canaccord Genuity Group cut their price objective on shares of Intuitive Machines from $19.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Bank of America cut their price target on Intuitive Machines from $10.50 to $8.50 and set an “underperform” rating on the stock in a research report on Monday, August 25th. Barclays began coverage on Intuitive Machines in a research note on Thursday, May 22nd. They issued a “neutral” rating on the stock. Craig Hallum started coverage on Intuitive Machines in a report on Tuesday, July 22nd. They set a “buy” rating and a $17.00 target price on the stock. Finally, UBS Group reissued a “buy” rating on shares of Intuitive Machines in a report on Monday, August 18th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.10.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 40,254 shares of Intuitive Machines stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.49, for a total value of $543,026.46. Following the completion of the sale, the director owned 3,494,768 shares in the company, valued at approximately $47,144,420.32. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 161,016 shares of company stock valued at $1,997,001. 39.75% of the stock is currently owned by company insiders.

About Intuitive Machines

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.