Wedbush Securities Inc. Invests $35,000 in Intuitive Machines, Inc. (NASDAQ:LUNR)

Wedbush Securities Inc. purchased a new stake in Intuitive Machines, Inc. (NASDAQ:LUNR) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,500 shares of the company’s stock, valued at approximately $35,000.

Other large investors have also recently added to or reduced their stakes in the company. Baltimore Washington Financial Advisors Inc. acquired a new stake in Intuitive Machines in the 1st quarter valued at $67,000. Sanders Morris Harris LLC acquired a new stake in Intuitive Machines in the 1st quarter valued at $119,000. Deuterium Capital Management LLC acquired a new stake in Intuitive Machines in the 1st quarter valued at $125,000. Tealwood Asset Management Inc. acquired a new stake in Intuitive Machines in the 1st quarter valued at $131,000. Finally, Rhumbline Advisers acquired a new stake in Intuitive Machines in the 2nd quarter valued at $119,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Stock Performance

Shares of LUNR stock opened at $6.13 on Monday. Intuitive Machines, Inc. has a one year low of $2.09 and a one year high of $13.25. The company’s 50-day simple moving average is $4.46 and its 200-day simple moving average is $4.86. The stock has a market capitalization of $763.99 million, a price-to-earnings ratio of 14.95 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 50,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.36, for a total transaction of $168,000.00. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $1,219,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuitive Machines news, SVP Timothy Price Crain II sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.36, for a total value of $168,000.00. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $1,219,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 203,018 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total transaction of $919,671.54. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $4,126,463.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 618,524 shares of company stock valued at $2,573,446. Insiders own 73.68% of the company’s stock.

Analyst Ratings Changes

LUNR has been the subject of several recent research reports. B. Riley assumed coverage on Intuitive Machines in a report on Friday, June 28th. They issued a “buy” rating and a $8.00 price target for the company. Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Monday, September 9th. Finally, Roth Mkm upped their price objective on shares of Intuitive Machines from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $9.80.

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.