Intuitive Machines (NASDAQ:LUNR) Trading 6% Higher

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 6% during trading on Wednesday . The stock traded as high as $5.59 and last traded at $5.51. Approximately 4,600,397 shares were traded during trading, a decline of 30% from the average daily volume of 6,529,848 shares. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

LUNR has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their price target on Intuitive Machines from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, August 14th. B. Riley began coverage on shares of Intuitive Machines in a report on Friday, June 28th. They set a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Tuesday. Finally, Roth Mkm lifted their price objective on shares of Intuitive Machines from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $9.80.

Intuitive Machines Trading Up 4.8 %

The stock has a market capitalization of $700.60 million, a price-to-earnings ratio of 13.44 and a beta of 0.21. The stock has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $5.00.

Insider Buying and Selling

In other Intuitive Machines news, SVP Timothy Price Crain II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $3.36, for a total value of $168,000.00. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $1,219,041.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Stephen J. Altemus sold 203,018 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total transaction of $919,671.54. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $4,126,463.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy Price Crain II sold 50,000 shares of Intuitive Machines stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.36, for a total value of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at $1,219,041.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 607,050 shares of company stock worth $2,508,917. 73.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Solstein Capital LLC acquired a new position in shares of Intuitive Machines during the 1st quarter worth $44,000. Wedbush Securities Inc. acquired a new position in Intuitive Machines during the second quarter worth $35,000. Baltimore Washington Financial Advisors Inc. acquired a new position in Intuitive Machines during the first quarter worth $67,000. Sender Co & Partners Inc. bought a new position in Intuitive Machines during the second quarter valued at about $56,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of Intuitive Machines during the 1st quarter worth about $119,000. Institutional investors own 72.21% of the company’s stock.

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.