Intuitive Machines (NASDAQ:LUNR) Shares Up 8.7% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 8.7% during mid-day trading on Thursday . The company traded as high as $22.97 and last traded at $22.68. Approximately 11,630,693 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 14,751,671 shares. The stock had previously closed at $20.87.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LUNR shares. Benchmark lifted 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. Cantor Fitzgerald upped their price target 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, Canaccord Genuity Group lifted their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Price Performance

The company has a market cap of $3.04 billion, a PE ratio of -7.37 and a beta of 0.90. The business has a fifty day simple moving average of $17.04 and a two-hundred day simple moving average of $10.34.

Insider Buying and Selling at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,020,109. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,609,820 shares of company stock worth $21,709,343 over the last quarter. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC acquired a new stake in Intuitive Machines during the third quarter valued at $83,000. The Manufacturers Life Insurance Company purchased a new position in Intuitive Machines in the 3rd quarter valued at $85,000. SG Americas Securities LLC acquired a new position in Intuitive Machines during the third quarter worth about $93,000. Creative Planning acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $105,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in Intuitive Machines in the 4th quarter valued at $244,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.