Intuitive Machines (NASDAQ:LUNR) Trading Up 5.5% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded up 5.5% during mid-day trading on Wednesday . The company traded as high as $7.82 and last traded at $7.88. 1,873,533 shares traded hands during trading, a decline of 87% from the average session volume of 14,683,484 shares. The stock had previously closed at $7.47.

Analyst Upgrades and Downgrades

Several research firms recently commented on LUNR. Cantor Fitzgerald lowered their target price on Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 25th. Bank of America began coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. Roth Mkm dropped their price target on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Canaccord Genuity Group decreased their price objective on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines has an average rating of “Moderate Buy” and an average price target of $16.00.

Intuitive Machines Stock Up 8.4 %

The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -2.75 and a beta of 1.01. The company’s 50-day simple moving average is $14.75 and its 200-day simple moving average is $13.04.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.12. The company had revenue of $54.66 million during the quarter, compared to analyst estimates of $72.58 million. As a group, analysts expect that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the sale, the insider now directly owns 104,272 shares of the company’s stock, valued at $2,043,731.20. The trade was a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 business. Quarry LP acquired a new stake in shares of Intuitive Machines during the fourth quarter worth approximately $44,000. Jones Financial Companies Lllp boosted its stake in shares of Intuitive Machines by 751.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after buying an additional 3,381 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Intuitive Machines by 201.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock valued at $90,000 after buying an additional 3,300 shares during the period. Ancora Advisors LLC purchased a new position in shares of Intuitive Machines during the 4th quarter valued at $91,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Intuitive Machines in the fourth quarter worth $183,000. Hedge funds and other 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.