Intuitive Machines (NASDAQ:LUNR) Trading Up 8.3% – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was up 8.3% during mid-day trading on Wednesday . The stock traded as high as $18.61 and last traded at $18.21. Approximately 5,677,447 shares were traded during trading, a decline of 60% from the average daily volume of 14,067,586 shares. The stock had previously closed at $16.81.

Analyst Upgrades and Downgrades

LUNR has been the subject of a number of recent analyst reports. B. Riley upped their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Benchmark upped their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, Canaccord Genuity Group raised their price objective on 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 MarketBeat, Intuitive Machines has an average rating of “Buy” and an average price target of $15.80.

Intuitive Machines Stock Up 6.5 %

The company’s fifty day moving average price is $14.54 and its two-hundred day moving average price is $8.86. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -6.09 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction 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 represents a 6.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was 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 in the company, valued at $4,390,001. The trade was a 52.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,954,713 shares of company stock valued at $24,475,385 over the last three months. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Intuitive Machines during the 2nd quarter worth about $536,000. Bank of New York Mellon Corp bought a new stake in shares of Intuitive Machines in the 2nd quarter valued at about $272,000. Stifel Financial Corp acquired a new stake in Intuitive Machines in the 3rd quarter valued at about $525,000. Finally, FORA Capital LLC bought a new position in Intuitive Machines during the third quarter worth about $458,000. 72.21% of the stock is currently 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.