Penserra Capital Management LLC Grows Stake in Intuitive Machines, Inc. (NASDAQ:LUNR)

Penserra Capital Management LLC grew its holdings in shares of Intuitive Machines, Inc. (NASDAQ:LUNR) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,857 shares of the company’s stock after purchasing an additional 20,916 shares during the period. Penserra Capital Management LLC owned approximately 0.12% of Intuitive Machines worth $1,190,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in 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 valued at $3,758,000 after buying an additional 429,531 shares during the last quarter. Sanders Morris Harris LLC raised its position in shares of Intuitive Machines by 264.9% in the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after purchasing an additional 50,600 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Intuitive Machines in the 2nd quarter worth approximately $272,000. Rhumbline Advisers purchased a new stake in Intuitive Machines during the 2nd quarter worth approximately $119,000. Finally, Wedbush Securities Inc. acquired a new position in Intuitive Machines during the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LUNR shares. Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald lifted their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Benchmark increased their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, B. Riley lifted their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company 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 currently has an average rating of “Buy” and a consensus price target of $13.10.

Insiders Place Their Bets

In related news, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the transaction, the chief financial officer now owns 117,500 shares in the company, valued at $655,650. The trade was a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total value of $8,375,881.68. Following the completion of the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at $29,041,522.08. The trade was a 22.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,763,571 shares of company stock worth $38,671,383. Corporate insiders own 73.68% of the company’s stock.

Intuitive Machines Stock Down 4.2 %

Shares of LUNR opened at $14.06 on Wednesday. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -4.78 and a beta of 0.35. Intuitive Machines, Inc. has a 52 week low of $2.09 and a 52 week high of $15.72. The stock’s 50-day moving average price is $9.11 and its 200-day moving average price is $6.10.

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.