5 Investors Betting Big on Intuitive Machines (LUNR) Stock in 2023


  • Intuitive Machines (LUNR) forecasts $291 million of revenue this year and $759 million of revenue next year.
  • Kingstown Capital Management is the largest shareholder of the company with an 11.14 million share stake.
  • LUNR stock is up about 400% year-to-date (YTD).
Intuitive Machines (LUNR) black and white logo displayed on smartphone screen with desktop screen behind it showing company website and image of moon
Source: shutterstock.com/T. Schneider

Intuitive Machines (NASDAQ:LUNR) stock has had quite the week, boasting a five-day return of more than 200%. The end-to-end space exploration company made its public debut last week after completing a special purpose acquisition company (SPAC) business combination with Inflection Point Acquisition. Intuitive will receive about $55 million in committed capital from the transaction.

Benchmark analyst Josh Sullivan outlined a $14 price target before the merger. In particular, Sullivan lauded Intuitive’s management team, which includes CEO Stephen Altemus, who formerly served as the Deputy Director of NASA’s Johnson Space Center. The analyst also believes that the race to the moon between China and the U.S. for water creates massive potential for the newly traded company.

Sullivan had the following to say:

“Moon accessible water/ice is expected to support permanent habitats as well as the elements of rocket fuel for missions to Mars, return missions and deep space […] The winner of this race could control the ‘oil’ of space travel, and NASA sees the next two years determining this race.”

Intuitive Machines currently has a $188 million contracted backlog and estimates that it generated $102 million in revenue last year. This year, the company expects revenue to almost triple to $291 million. By 2024, revenue is expected to more than double from 2023 levels to $759 million.

This company is clearly attracting attention with its high-growth rates and future prospects. Let’s take a look at the investors betting big on LUNR stock.

5 Investors Betting Big on LUNR Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During the fourth quarter, 41 13F filers disclosed ownership of LUNR stock, an increase of four filers from the prior quarter. Of those filers, only one reported holding LUNR in their top ten positions.

While LUNR made its public debut last week, ownership data from its predecessor, IPAX, is still available. In addition, WhaleWisdom reports that the institutional put/call ratio is zero, since 13F filers do not own any options against the stock. With that in mind, here are the top five shareholders of LUNR stock:

  1. Kingstown Capital Management: 11.14 million shares. Kingstown acquired its entire stake during Q4.
  2. Hudson Bay Capital Management: 3.10 million shares. Hudson’s position remained unchanged during Q4.
  3. LMR Partners: 2.90 million shares. LMR’s position remained unchanged during Q4.
  4. P. Schoenfeld Asset Management: 2.70 million shares. P. Schoenfeld’s position remained unchanged during Q4.
  5. Taconic Capital Advisors: 2.23 million shares. Taconic acquired 480,000 shares during Q4.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/02/5-investors-betting-big-on-intuitive-machines-lunr-stock-in-2023/.

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