Intuitive Machines (NASDAQ:LUNR) Stock Price Up 20.8% – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price rose 20.8% on Tuesday . The stock traded as high as $22.75 and last traded at $22.35. Approximately 15,258,493 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 13,928,716 shares. The stock had previously closed at $18.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Benchmark lifted their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group lifted their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald upped their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Performance

The company has a 50 day moving average of $15.28 and a 200 day moving average of $9.28. The firm has a market cap of $3.12 billion, a P/E ratio of -7.53 and a beta of 0.90.

Insider Buying and Selling

In other news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated 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 transaction, the director now owns 3,494,768 shares in the company, valued at approximately $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 1,609,820 shares of company stock worth $21,709,343 in the last three months. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of LUNR. SG Americas Securities LLC raised its holdings in shares of Intuitive Machines by 55.7% in the fourth quarter. SG Americas Securities LLC now owns 18,046 shares of the company’s stock valued at $328,000 after purchasing an additional 6,454 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in Intuitive Machines in the 4th quarter valued at $454,000. Hennion & Walsh Asset Management Inc. lifted its position in Intuitive Machines by 144.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 57,463 shares of the company’s stock worth $1,044,000 after buying an additional 33,939 shares in the last quarter. Connective Portfolio Management LLC acquired a new position in shares of Intuitive Machines during the 4th quarter worth about $872,000. Finally, Tealwood Asset Management Inc. increased its position in shares of Intuitive Machines by 4.5% in the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock valued at $380,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.