Intuitive Machines (NASDAQ:LUNR) Shares Up 8.3% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price shot up 8.3% during mid-day trading on Wednesday . The company traded as high as $18.61 and last traded at $18.21. 5,677,447 shares traded hands during trading, a decline of 60% from the average session volume of 14,067,586 shares. The stock had previously closed at $16.81.

Analyst Ratings Changes

LUNR has been the topic of a number of recent analyst reports. Cantor Fitzgerald boosted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Canaccord Genuity Group increased their price target on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Benchmark increased their target price on 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 upped their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Trading Down 2.9 %

The stock has a market capitalization of $2.60 billion, a P/E ratio of -6.30 and a beta of 0.90. The company has a fifty day simple moving average of $14.76 and a two-hundred day simple moving average of $8.93.

Insider Buying and Selling

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the sale, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total value of $5,684,713.92. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $52,561,310.72. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,954,713 shares of company stock valued at $24,475,385 over the last ninety days. Insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently modified their holdings of LUNR. Sender Co & Partners Inc. acquired a new stake in shares of Intuitive Machines in the 2nd quarter valued at approximately $56,000. Waldron Private Wealth LLC acquired a new stake in Intuitive Machines in the third quarter worth $83,000. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines during the third quarter worth $85,000. SG Americas Securities LLC acquired a new position in shares of Intuitive Machines in the 3rd quarter valued at $93,000. Finally, Creative Planning bought a new stake in shares of Intuitive Machines in the 3rd quarter valued at $105,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.