Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares gapped up prior to trading on Monday . The stock had previously closed at $7.09, but opened at $7.64. Intuitive Machines shares last traded at $8.33, with a volume of 7,211,179 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LUNR shares. Roth Mkm dropped their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group dropped their price target on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Roth Capital set a $20.00 price target on Intuitive Machines in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target for the company. Finally, Bank of America started coverage on Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Intuitive Machines Stock Performance

The firm has a fifty day simple moving average of $16.22 and a 200 day simple moving average of $12.90. The company has a market capitalization of $1.24 billion, a PE ratio of -2.99 and a beta of 1.01.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction on 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 sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Vontur sold 9,266 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the sale, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 392,713 shares of company stock worth $7,250,066 in the last ninety days. 73.68% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Charles Schwab Investment Management Inc. boosted its position in Intuitive Machines by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after acquiring an additional 32,015 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Intuitive Machines by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after purchasing an additional 20,916 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines in the 3rd quarter worth $85,000. MetLife Investment Management LLC acquired a new stake in shares of Intuitive Machines in the 3rd quarter worth $138,000. Finally, FORA Capital LLC acquired a new stake in shares of Intuitive Machines in the 3rd quarter worth $458,000. Institutional investors own 72.21% of the company’s stock.

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.