Wedbush Securities Inc. Makes New Investment in Intuitive Machines, Inc. (NASDAQ:LUNR)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Intuitive Machines during the 2nd quarter worth approximately $272,000. Sanders Morris Harris LLC boosted its stake in shares of Intuitive Machines by 264.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after acquiring an additional 50,600 shares in the last quarter. Inscription Capital LLC purchased a new stake in shares of Intuitive Machines during the 1st quarter worth approximately $304,000. Finally, Rhumbline Advisers purchased a new stake in shares of Intuitive Machines during the 2nd quarter worth approximately $119,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LUNR shares. B. Riley started coverage on Intuitive Machines in a research note on Friday, June 28th. They set a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Monday, September 9th. Roth Mkm upped their target price on Intuitive Machines from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has an average rating of “Buy” and an average price target of $9.80.

Intuitive Machines Stock Performance

LUNR stock opened at $6.13 on Monday. Intuitive Machines, Inc. has a 1 year low of $2.09 and a 1 year high of $13.25. The stock’s 50 day moving average price is $4.46 and its 200 day moving average price is $4.86. The firm has a market cap of $763.99 million, a P/E 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) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to analyst estimates of $43.00 million. On average, research analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling at Intuitive Machines

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

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.