Intuitive Machines (NASDAQ:LUNR) Trading 8.1% Higher – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 8.1% during trading on Tuesday . The company traded as high as $22.40 and last traded at $21.21. 10,512,767 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 13,502,047 shares. The stock had previously closed at $19.62.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America assumed coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. Cantor Fitzgerald lifted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Benchmark lifted their price objective 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. Finally, Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

Intuitive Machines Trading Up 3.3 %

The stock has a market capitalization of $2.84 billion, a PE ratio of -6.89 and a beta of 0.92. The firm’s fifty day moving average price is $18.30 and its two-hundred day moving average price is $11.62.

Insider Activity

In other news, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the transaction, the insider now directly owns 98,656 shares of the company’s stock, valued at $2,219,760. The trade was a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 771,632 shares of company stock valued at $12,947,078 in the last three months. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently made changes to their positions in LUNR. Two Sigma Investments LP purchased a new stake in Intuitive Machines in the 4th quarter worth $33,255,000. D. E. Shaw & Co. Inc. increased its holdings in Intuitive Machines by 3,991.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock worth $21,102,000 after acquiring an additional 1,133,581 shares in the last quarter. Vanguard Group Inc. increased its holdings in Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after acquiring an additional 1,017,706 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock worth $22,170,000 after acquiring an additional 609,118 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Intuitive Machines in the 4th quarter worth $9,133,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.