5 Investors Betting Big on Intuitive Machines (LUNR) Stock


  • Intuitive Machines’ (LUNR) insiders are its largest shareholders.
  • Co-founder and Chairman Kamal Ghaffarian is the space company’s largest shareholder with ownership of 60.03 million shares.
  • Other significant shareholders of LUNR stock include President and CEO Stephen Altemus and co-founder and Chief Technology Officer Tim Crain II.
LUNR stock - 5 Investors Betting Big on Intuitive Machines (LUNR) Stock

Source: shutterstock.com/T. Schneider

Intuitive Machines (NASDAQ:LUNR) stock is blasting higher after the space exploration company announced that its Nova-C lunar lander, called Odysseus, had successfully landed on the moon as part of its IM-1 mission. This marks the first U.S. spacecraft to land on the moon since 1972 and the first time ever that a privately developed spacecraft has successfully landed on the moon.

On Feb. 15, Intuitive had announced that Odysseus was on the way to the moon after launching from a SpaceX Falcon 9 rocket. The lander then touched down on Thursday evening. After landing, the signal from Odysseus was lost, as expected, before eventually connecting again. Two hours later, Intuitive confirmed that Odysseus was in an upright position and transmitting data.

“What we can confirm, without a doubt, is that our equipment is on the surface of the moon and we are transmitting. So congratulations, IM-1,” said Chief Technology Officer and IM-1 mission director Tim Crain.

Odysseus was launched as part of NASA’s “commercial payload program,” which seeks to utilize private companies for space exploration in a cost-efficient manner.

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, only 28 13F files reported a stake in LUNR stock, which remained unchanged from Q3. The low number of filers is likely attributed to Intuitive only becoming a publicly traded company about a year ago following a special purpose acquisition company (SPAC) transaction. These filers own a total of 3.30 million shares, down by 8.98% compared to 3.62 million shares during Q3.

Meanwhile, hedge funds, which have data included in 13F metrics, reported ownership of 1.58 million shares compared to 2.02 million shares during the previous quarter. Only five hedge funds own LUNR, down from seven hedge funds.

With that in mind, let’s take a look at Intuitive’s largest shareholders:

  1. Kamal Ghaffarian, co-founder and Chairman: 60.03 million shares. Ghaffarian’s stake is accurate as of January 2024.
  2. Stephen Altemus, President and CEO: 18.34 million shares. Altemus’ stake is accurate as of December 2023.
  3. Tim Crain II, co-founder and Chief Technology Officer: 11.61 million shares. Crain’s stake is accurate as of December 2023.
  4. Guy Shanon: 3.01 million shares. Shanon’s stake is accurate as of July 2023.
  5. Michael Blitzer, Director: 1.66 million shares. Blitzer’s stake is accurate as of August 2023.

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/2024/02/5-investors-betting-big-on-intuitive-machines-lunr-stock/.

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