Van ECK Associates Corp Invests $3.40 Million in Intuitive Machines, Inc. (NASDAQ:LUNR)

Van ECK Associates Corp purchased a new stake in Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 187,405 shares of the company's stock, valued at approximately $3,403,000. Van ECK Associates Corp owned approximately 0.13% of Intuitive Machines as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Waldron Private Wealth LLC bought a new stake in Intuitive Machines in the third quarter valued at approximately $83,000. 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 acquired a new position in shares of Intuitive Machines during the third quarter worth approximately $93,000. Creative Planning acquired a new position in shares of Intuitive Machines during the third quarter worth approximately $105,000. Finally, LMR Partners LLP bought a new stake in Intuitive Machines during the third quarter worth $110,000. Institutional investors own 72.21% of the company's stock.

Wall Street Analyst Weigh In

LUNR has been the subject of several recent research reports. Cantor Fitzgerald upped their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Bank of America assumed coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price target for the company. Benchmark increased their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group increased their price target on Intuitive Machines from $17.50 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $15.83.

Intuitive Machines Stock Down 9.0 %

Shares of NASDAQ LUNR traded down $1.78 during trading hours on Friday, reaching $17.94. 9,898,147 shares of the stock traded hands, compared to its average volume of 13,588,207. The company has a market capitalization of $2.52 billion, a P/E ratio of -6.09 and a beta of 0.92. Intuitive Machines, Inc. has a 52-week low of $3.15 and a 52-week high of $24.95. The company's 50-day simple moving average is $18.79 and its two-hundred day simple moving average is $11.85.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares of the company's stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares of the company's stock, valued at $2,043,731.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 771,632 shares of company stock worth $12,947,078 over the last quarter. 73.68% of the stock is currently owned by insiders.

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.