Intuitive Machines (NASDAQ:LUNR) Shares Up 2.1% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price rose 2.1% during trading on Tuesday . The company traded as high as $18.30 and last traded at $17.26. Approximately 3,969,054 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 14,554,187 shares. The stock had previously closed at $16.91.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Benchmark boosted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald lifted their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, B. Riley upped their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Intuitive Machines currently has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Trading Down 0.6 %

The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -6.48 and a beta of 0.90. The company has a 50 day moving average price of $14.76 and a 200 day moving average price of $8.93.

Insider Activity at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. This represents a 6.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,954,713 shares of company stock worth $24,475,385 over the last 90 days. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines during the 2nd quarter worth about $272,000. Rhumbline Advisers bought a new position in Intuitive Machines during the 2nd quarter worth approximately $119,000. XTX Topco Ltd acquired a new position in Intuitive Machines during the second quarter valued at approximately $164,000. Squarepoint Ops LLC bought a new stake in Intuitive Machines in the second quarter valued at approximately $536,000. Finally, Sender Co & Partners Inc. acquired a new stake in Intuitive Machines in the second quarter worth $56,000. 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.