Intuitive Machines (NASDAQ:LUNR) Reaches New 52-Week High – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.98 and last traded at $22.94, with a volume of 28545846 shares. The stock had previously closed at $18.51.

Wall Street Analyst Weigh In

A number of brokerages have commented on LUNR. Cantor Fitzgerald increased their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Benchmark raised their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group lifted their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Price Performance

The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -7.80 and a beta of 0.90. The firm has a fifty day moving average of $15.28 and a 200 day moving average of $9.28.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 177,734 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $7.93, for a total value of $1,409,430.62. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $27,713,510.24. The trade was a 4.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This trade represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,609,820 shares of company stock worth $21,709,343 in the last three months. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LUNR. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at $83,000. The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines in the 3rd quarter valued at about $85,000. SG Americas Securities LLC purchased a new stake in Intuitive Machines during the third quarter worth about $93,000. Creative Planning purchased a new stake in Intuitive Machines during the third quarter worth about $105,000. Finally, LMR Partners LLP acquired a new stake in Intuitive Machines during the 3rd quarter worth approximately $110,000. 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.