Intuitive Machines (NASDAQ:LUNR) Sees Strong Trading Volume – Still a Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) saw an uptick in trading volume on Wednesday . 6,762,584 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 8,949,367 shares.The stock last traded at $11.26 and had previously closed at $10.40.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LUNR. Roth Mkm reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Benchmark reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Monday, September 30th. Finally, B. Riley increased their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Five equities research 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 an average price target of $10.60.

Intuitive Machines Price Performance

The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -12.73 and a beta of 0.35. The stock has a fifty day simple moving average of $7.77 and a 200-day simple moving average of $5.63.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. As a group, equities analysts expect that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Timothy Price Crain II sold 400,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 362,810 shares in the company, valued at $4,390,001. This trade represents a 52.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven Vontur sold 10,274 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the sale, the chief financial officer now directly owns 117,500 shares of the company’s stock, valued at $655,650. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,763,571 shares of company stock valued at $38,671,383. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently bought and sold shares of the stock. FORA Capital LLC purchased a new position in Intuitive Machines during the third quarter worth $458,000. MetLife Investment Management LLC purchased a new stake in Intuitive Machines during the third quarter valued at about $138,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines during the third quarter valued at about $85,000. Penserra Capital Management LLC lifted its stake in shares of Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after purchasing an additional 20,916 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after purchasing an additional 32,015 shares in the last quarter. Hedge funds and other institutional investors 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.