Intuitive Machines (NASDAQ:LUNR) Sets New 52-Week High – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $31.94 and last traded at $32.42, with a volume of 4299822 shares trading hands. The stock had previously closed at $28.97.

Analyst Upgrades and Downgrades

Several analysts have commented on LUNR shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intuitive Machines from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 20th. KeyCorp increased their price target on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Roth Mkm increased their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $16.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.55.

Intuitive Machines Trading Up 11.9%

The firm has a fifty day moving average price of $21.51 and a 200 day moving average price of $16.98. The firm has a market cap of $7.03 billion, a PE ratio of -43.81 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million. As a group, equities analysts predict that Intuitive Machines, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Stephen J. Altemus sold 13,751 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $324,661.11. Following the completion of the sale, the chief executive officer owned 1,162,495 shares in the company, valued at $27,446,506.95. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Peter Mcgrath sold 24,554 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $579,719.94. Following the completion of the sale, the chief financial officer owned 401,246 shares of the company’s stock, valued at approximately $9,473,418.06. This represents a 5.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,046,210 shares of company stock worth $22,238,410 in the last three months. 54.10% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Several large investors have recently bought and sold shares of the company. Trustees of the University of Pennsylvania purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at $52,689,000. First Trust Advisors LP grew its stake in shares of Intuitive Machines by 3,582.9% in the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after buying an additional 2,386,688 shares in the last quarter. Jump Financial LLC grew its stake in shares of Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock valued at $14,095,000 after buying an additional 1,314,888 shares in the last quarter. Marshall Wace LLP grew its stake in Intuitive Machines by 523.7% during the 4th quarter. Marshall Wace LLP now owns 1,260,459 shares of the company’s stock valued at $20,457,000 after purchasing an additional 1,058,376 shares in the last quarter. Finally, ARK Investment Management LLC grew its stake in Intuitive Machines by 78.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock valued at $21,810,000 after purchasing an additional 914,458 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.