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Unleashing the Lunar Frenzy: Intuitive Machines Stock Rockets Skyward

Mission Accomplished: Intuitive Machines’ Lunar Triumph

Intuitive Machines (NASDAQ:LUNR) stock is on a meteoric rise following the groundbreaking achievement of its Nova-C lunar lander, named Odysseus. The milestone event took place as part of the IM-1 mission, marking the first successful U.S. lunar landing since 1972 and the inaugural triumph of a privately developed spacecraft on the moon.

On Feb. 15, Intuitive Machines heralded the journey of Odysseus en route to the moon after a momentous launch from a SpaceX Falcon 9 rocket. Subsequently, the lander gracefully touched down on the lunar surface on a Thursday evening. On landing, as anticipated, the signal from Odysseus was momentarily disrupted before reconnecting. Shortly after, the company proudly confirmed Odysseus’ upright position with data transmission underway.

Chief Technology Officer and IM-1 mission director Tim Crain expressed, “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.”

The mission of Odysseus was a integral part of NASA’s “commercial payload program,” a strategic initiative aimed at harnessing the capabilities of private enterprises for space exploration efficiency.

Stratospheric Investor Interest in LUNR Stock

Monitoring institutional ownership provides critical insights into the support and liquidity for stocks. In the last quarter, only 28 13F filings indicated a stake in LUNR stock, maintaining consistency from the previous quarter. The limited number of filers can be attributed to Intuitive Machines’ recent public debut post a special purpose acquisition company (SPAC) transaction. Cumulatively, these filers possess 3.30 million shares, reflecting an 8.98% decrease from the previous quarter’s 3.62 million shares.

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Furthermore, hedge funds, a key component in the 13F metrics, reported ownership of 1.58 million shares, a decrease from 2.02 million shares in the preceding quarter. Only five hedge funds are currently invested in LUNR, down from seven.

Here are the prominent shareholders of Intuitive Machines:

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

Eddie Pan, focusing on institutional investments and insider activity, contributes insights for InvestorPlace’s Today’s Market team, delivering timely news on popular stocks.