Intuitive Machines (NASDAQ:LUNR) Shares Climb 3% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded up 3% during mid-day trading on Thursday. The stock traded as high as $16.08 and last traded at $15.70. Approximately 7,995,189 shares were traded during mid-day trading, a decline of 34% from the average session volume of 12,129,670 shares. The stock had previously closed at $15.24.

Analyst Upgrades and Downgrades

LUNR has been the subject of a number of recent analyst reports. Roth Capital set a $30.00 price target on shares of Intuitive Machines in a report on Thursday, August 13th. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and decreased their price objective for the company from $32.00 to $26.00 in a research report on Friday, August 14th. Canaccord Genuity Group lowered their target price on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. B. Riley Financial dropped their target price on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, Bank of America increased their price target on Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Monday, August 31st. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Intuitive Machines Stock Performance

The business’s 50 day moving average price is $15.15 and its 200-day moving average price is $21.50. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -16.53 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to analysts’ expectations of $212.32 million. On average, analysts forecast that Intuitive Machines, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Crain, II sold 100,000 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the completion of the transaction, the senior vice president owned 351,279 shares in the company, valued at approximately $4,910,880.42. This represents a 22.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International L.P. Advent sold 11,495,514 shares of Intuitive Machines stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the completion of the sale, the insider owned 11,495,514 shares in the company, valued at approximately $147,602,399.76. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,343,437 shares of company stock valued at $161,528,436. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tema ETFs LLC raised its holdings in Intuitive Machines by 139,768.2% during the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after purchasing an additional 3,102,854 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Intuitive Machines during the 2nd quarter valued at $64,452,000. Renaissance Technologies LLC acquired a new stake in shares of Intuitive Machines in the first quarter valued at $35,895,000. Bank of America Corp DE boosted its stake in Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after buying an additional 1,231,188 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Intuitive Machines by 28.8% during the first quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock valued at $12,200,000 after buying an additional 147,095 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.