Intuitive Machines, Inc. (NASDAQ:LUNR) Position Raised by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR) by 31.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 933,272 shares of the company’s stock after acquiring an additional 222,136 shares during the quarter. Geode Capital Management LLC’s holdings in Intuitive Machines were worth $7,514,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LUNR. Waldron Private Wealth LLC bought a new stake in Intuitive Machines in the 3rd quarter valued at about $83,000. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines during the second quarter valued at approximately $35,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the third quarter worth approximately $85,000. SG Americas Securities LLC bought a new position in Intuitive Machines in the 3rd quarter worth approximately $93,000. Finally, Creative Planning acquired a new stake in Intuitive Machines in the 3rd quarter valued at approximately $105,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Up 6.4 %

NASDAQ:LUNR opened at $19.32 on Friday. The business’s 50-day moving average price is $12.76 and its 200 day moving average price is $7.92. Intuitive Machines, Inc. has a 52-week low of $2.09 and a 52-week high of $21.00. The firm has a market cap of $2.71 billion, a P/E ratio of -6.57 and a beta of 0.93.

Insider Activity

In other news, CEO Stephen J. Altemus sold 61,432 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total transaction of $675,752.00. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $10,020,109. The trade was a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,080,704 shares of company stock worth $25,411,498. Corporate insiders own 73.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LUNR. Cantor Fitzgerald boosted their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group lowered their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a research note on Friday, December 6th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, B. Riley raised their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines currently has a consensus rating of “Buy” and a consensus price target of $14.10.

Intuitive Machines Company 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.