Intuitive Machines (NASDAQ:LUNR) Stock Price Up 20.8% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 20.8% during mid-day trading on Tuesday . The company traded as high as $22.75 and last traded at $22.35. Approximately 15,258,493 shares were traded during trading, an increase of 10% from the average daily volume of 13,928,716 shares. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

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

Intuitive Machines Stock Down 1.2 %

The business’s 50-day moving average is $15.74 and its two-hundred day moving average is $9.51. The company has a market capitalization of $3.11 billion, a P/E ratio of -7.54 and a beta of 0.90.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,609,820 shares of company stock valued at $21,709,343 over the last ninety days. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in the stock. Tealwood Asset Management Inc. raised its position in Intuitive Machines by 4.5% in the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock worth $380,000 after acquiring an additional 900 shares during the period. SG Americas Securities LLC raised its position in shares of Intuitive Machines by 55.7% in the fourth quarter. SG Americas Securities LLC now owns 18,046 shares of the company’s stock valued at $328,000 after purchasing an additional 6,454 shares during the period. State Street Corp raised its position in shares of Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after purchasing an additional 7,538 shares during the period. Waldron Private Wealth LLC bought a new stake in shares of Intuitive Machines in the third quarter valued at approximately $83,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Intuitive Machines in the third quarter valued at approximately $85,000. 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.