Connective Portfolio Management LLC Acquires Shares of 48,000 Intuitive Machines, Inc. (NASDAQ:LUNR)

Connective Portfolio Management LLC bought a new position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 48,000 shares of the company's stock, valued at approximately $872,000.

Several other institutional investors have also recently made changes to their positions in the company. FORA Capital LLC bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $458,000. Geode Capital Management LLC lifted its position in Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company's stock valued at $7,514,000 after buying an additional 222,136 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Intuitive Machines during the 2nd quarter valued at $536,000. Stifel Financial Corp purchased a new stake in shares of Intuitive Machines in the 3rd quarter worth about $525,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Intuitive Machines by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company's stock worth $836,000 after acquiring an additional 32,015 shares in the last quarter. Institutional investors own 72.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LUNR shares. Canaccord Genuity Group upped their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. B. Riley lifted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Benchmark increased their target price 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, Roth Mkm reaffirmed a "buy" rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $15.80.

Intuitive Machines Trading Up 0.9 %

LUNR traded up $0.17 during trading on Thursday, hitting $19.35. 8,092,960 shares of the company's stock traded hands, compared to its average volume of 14,541,333. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -6.58 and a beta of 0.90. The company's 50 day simple moving average is $14.54 and its two-hundred day simple moving average is $8.86. Intuitive Machines, Inc. has a 12-month low of $2.48 and a 12-month high of $22.32.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of the business's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the sale, the director now directly owns 3,494,768 shares of the company's stock, valued at approximately $28,028,039.36. The trade was a 8.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,954,713 shares of company stock valued at $24,475,385 over the last ninety days. 73.68% of the stock is currently owned by corporate insiders.

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.