Intuitive Machines, Inc. $LUNR Shares Bought by ARK Investment Management LLC

ARK Investment Management LLC grew its holdings in shares of Intuitive Machines, Inc. (NASDAQ:LUNR) by 78.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,073,233 shares of the company’s stock after purchasing an additional 914,458 shares during the period. ARK Investment Management LLC’s holdings in Intuitive Machines were worth $21,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in LUNR. Quantbot Technologies LP bought a new stake in Intuitive Machines during the third quarter worth approximately $4,696,000. DNB Asset Management AS acquired a new stake in shares of Intuitive Machines during the 3rd quarter valued at $1,119,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Intuitive Machines by 15.1% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 445,401 shares of the company’s stock worth $4,686,000 after acquiring an additional 58,596 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Intuitive Machines during the 3rd quarter worth $280,000. Finally, Citigroup Inc. grew its holdings in shares of Intuitive Machines by 627.6% in the 3rd quarter. Citigroup Inc. now owns 1,048,106 shares of the company’s stock worth $11,026,000 after acquiring an additional 904,065 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LUNR has been the subject of several analyst reports. Bank of America upped their target price on Intuitive Machines from $8.50 to $9.50 and gave the company an “underperform” rating in a report on Wednesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. KeyCorp lifted their target price on shares of Intuitive Machines from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Roth Mkm restated a “buy” rating on shares of Intuitive Machines in a report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.27.

Intuitive Machines Price Performance

NASDAQ:LUNR opened at $18.62 on Thursday. Intuitive Machines, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $23.32. The stock’s 50-day moving average is $18.23 and its two-hundred day moving average is $13.22. The stock has a market cap of $3.36 billion, a PE ratio of -7.54 and a beta of 1.40.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 23,226 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $17.44, for a total value of $405,061.44. Following the transaction, the senior vice president owned 359,726 shares in the company, valued at $6,273,621.44. The trade was a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 86,803 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $16.01, for a total value of $1,389,716.03. Following the completion of the transaction, the chief executive officer owned 1,176,246 shares in the company, valued at $18,831,698.46. This trade represents a 6.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,689,913 shares of company stock worth $62,240,781 in the last quarter. 39.75% of the stock is owned by corporate insiders.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.