Intuitive Machines (NASDAQ:LUNR) Trading Up 10.2% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price rose 10.2% during trading on Friday . The stock traded as high as $37.71 and last traded at $37.7410. Approximately 4,327,904 shares traded hands during trading, a decline of 66% from the average daily volume of 12,712,582 shares. The stock had previously closed at $34.24.

Analysts Set New Price Targets

LUNR has been the subject of several recent research reports. KeyCorp upped their target price on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Wall Street Zen lowered Intuitive Machines from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald upped their target price on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a report on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Stock Up 8.1%

The company has a 50-day moving average price of $24.67 and a 200-day moving average price of $18.47. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of -41.98 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. As a group, analysts forecast that Intuitive Machines, Inc. will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Peter Mcgrath sold 24,554 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 $579,719.94. Following the completion of the transaction, the chief financial officer directly owned 401,246 shares in the company, valued at approximately $9,473,418.06. The trade was a 5.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Price Crain II sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $17.55, for a total value of $2,632,500.00. Following the transaction, the senior vice president owned 359,726 shares of the company’s stock, valued at approximately $6,313,191.30. This represents a 29.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,048,206 shares of company stock valued at $24,782,839. Corporate insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of 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 worth $34,948,000 after buying an additional 1,231,188 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in Intuitive Machines in the first quarter worth approximately $59,000. Janus Henderson Group PLC lifted its position in Intuitive Machines by 38.9% in the first quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock worth $947,000 after purchasing an additional 14,300 shares during the period. California State Teachers Retirement System lifted its position in Intuitive Machines by 28.2% in the first quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock worth $2,347,000 after purchasing an additional 27,793 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Intuitive Machines by 2.4% in the first quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock worth $996,000 after purchasing an additional 1,235 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.