Renaissance Technologies LLC Acquires 609,118 Shares of Intuitive Machines, Inc. (NASDAQ:LUNR)

Renaissance Technologies LLC raised its holdings in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 99.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,220,800 shares of the company's stock after purchasing an additional 609,118 shares during the period. Renaissance Technologies LLC owned 0.87% of Intuitive Machines worth $22,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LUNR. Geode Capital Management LLC grew its position in shares of Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company's stock worth $7,514,000 after buying an additional 222,136 shares during the period. Van ECK Associates Corp acquired a new position in Intuitive Machines during the fourth quarter valued at approximately $3,403,000. Entropy Technologies LP acquired a new position in Intuitive Machines during the fourth quarter valued at approximately $895,000. Spire Wealth Management bought a new stake in Intuitive Machines in the fourth quarter valued at approximately $469,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in Intuitive Machines in the fourth quarter worth $244,000. Institutional investors own 72.21% of the company's stock.

Wall Street Analysts Forecast Growth

LUNR has been the subject of several recent analyst reports. Benchmark restated a "buy" rating and issued a $16.00 price target on shares of Intuitive Machines in a report on Tuesday, March 25th. B. Riley reissued a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, March 25th. Roth Mkm dropped their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Cantor Fitzgerald reduced their price target on shares of Intuitive Machines from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Finally, Bank of America initiated coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.00.

Insider Activity at Intuitive Machines

In related news, insider Steven Vontur sold 9,266 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the transaction, the insider now directly owns 98,656 shares of the company's stock, valued at $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Mcgrath sold 37,906 shares of Intuitive Machines stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $7.71, for a total transaction of $292,255.26. Following the transaction, the chief financial officer now directly owns 438,992 shares of the company's stock, valued at approximately $3,384,628.32. This trade represents a 7.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,700 shares of company stock valued at $589,489. Company insiders own 73.68% of the company's stock.

Intuitive Machines Trading Down 1.6 %

NASDAQ:LUNR traded down $0.12 during mid-day trading on Friday, hitting $7.45. 3,999,659 shares of the company's stock were exchanged, compared to its average volume of 11,979,222. The firm has a market capitalization of $1.33 billion, a P/E ratio of -2.53 and a beta of 1.33. The company has a 50 day simple moving average of $10.97 and a 200-day simple moving average of $12.92. Intuitive Machines, Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.12. The business had revenue of $54.66 million for the quarter, compared to analysts' expectations of $72.58 million. As a group, analysts expect that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

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.