Intuitive Machines (NASDAQ:LUNR) Hits New 1-Year High – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares hit a new 52-week high on Tuesday . The company traded as high as $44.85 and last traded at $44.43, with a volume of 4378215 shares trading hands. The stock had previously closed at $38.26.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LUNR. Wall Street Zen upgraded shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday. KeyCorp lifted their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research note on Friday, May 15th. B. Riley Financial lifted their price objective on Intuitive Machines to $45.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The business’s 50 day moving average is $25.47 and its 200 day moving average is $18.85. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of -49.48 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. As a group, analysts forecast that Intuitive Machines, Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 283,818 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $18.78, for a total value of $5,330,102.04. Following the completion of the transaction, the director owned 3,494,768 shares of the company’s stock, valued at $65,631,743.04. The trade was a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $579,719.94. Following the completion of the transaction, the chief financial officer directly 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 1,048,206 shares of company stock valued at $24,782,839. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors have recently modified their holdings of LUNR. Invesco Ltd. increased its stake in Intuitive Machines by 19.7% in the first quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after purchasing an additional 2,643 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Intuitive Machines by 43.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after purchasing an additional 7,528 shares during the last quarter. Caxton Associates LLP acquired a new position in Intuitive Machines in the first quarter valued at $139,000. Creative Planning increased its stake in Intuitive Machines by 29.3% in the second quarter. Creative Planning now owns 30,407 shares of the company’s stock valued at $331,000 after purchasing an additional 6,886 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock valued at $205,000 after purchasing an additional 2,506 shares during 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.