Intuitive Machines (NASDAQ:LUNR) Hits New 52-Week High – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $14.93 and last traded at $14.74, with a volume of 10095097 shares changing hands. The stock had previously closed at $13.99.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LUNR shares. Canaccord Genuity Group increased their target price on Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald boosted their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Benchmark increased their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, B. Riley raised their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Stock Up 8.7 %

The company has a 50 day moving average of $8.58 and a 200-day moving average of $5.91. The stock has a market capitalization of $1.96 billion, a P/E ratio of -5.21 and a beta of 0.35.

Insider Activity

In other news, Director Michael Blitzer sold 662,673 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $8.19, for a total transaction of $5,427,291.87. Following the completion of the transaction, the director now owns 1,062,865 shares of the company’s stock, valued at approximately $8,704,864.35. The trade was a 38.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 570,705 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.08, for a total value of $3,469,886.40. Following the sale, the director now owns 3,551,606 shares in the company, valued at approximately $21,593,764.48. The trade was a 13.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,763,571 shares of company stock worth $38,671,383 in the last three months. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC raised its position in Intuitive Machines by 275.2% during the third quarter. Barclays PLC now owns 37,323 shares of the company’s stock valued at $300,000 after purchasing an additional 27,376 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after buying an additional 222,136 shares during the period. Savoie Capital LLC bought a new position in shares of Intuitive Machines during the 3rd quarter valued at about $112,000. State Street Corp raised its position in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares during the period. Finally, Stifel Financial Corp purchased a new position in shares of Intuitive Machines during the third quarter worth approximately $525,000. 72.21% of the stock is owned by institutional investors.

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.