The Manufacturers Life Insurance Company Purchases New Shares in Intuitive Machines, Inc. (NASDAQ:LUNR)

The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines, Inc. (NASDAQ:LUNR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,528 shares of the company’s stock, valued at approximately $85,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $536,000. Penserra Capital Management LLC raised its position in shares of Intuitive Machines by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after acquiring an additional 20,916 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $836,000 after purchasing an additional 32,015 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Intuitive Machines during the second quarter valued at approximately $272,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LUNR has been the subject of a number of research reports. Canaccord Genuity Group decreased their price objective on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a report on Friday, December 6th. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Roth Mkm reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, B. Riley upped their price target on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $14.10.

Intuitive Machines Stock Performance

Shares of Intuitive Machines stock opened at $12.93 on Tuesday. The company has a 50-day simple moving average of $10.55 and a two-hundred day simple moving average of $6.88. The stock has a market capitalization of $1.81 billion, a PE ratio of -4.40 and a beta of 0.93. Intuitive Machines, Inc. has a 52-week low of $2.09 and a 52-week high of $17.14.

Insider Activity

In other news, SVP Timothy Price Crain II sold 300,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $8.23, for a total transaction of $2,469,000.00. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at $2,985,926.30. This trade represents a 45.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at $52,561,310.72. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,921,440 shares of company stock worth $36,971,041 over the last 90 days. 73.68% of the stock is currently owned by 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.