Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Monday . The stock had previously closed at $19.79, but opened at $20.94. Intuitive Machines shares last traded at $20.1730, with a volume of 1,870,127 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. KeyCorp upped their price target on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings restated 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, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Performance

The firm has a fifty day simple moving average of $29.56 and a two-hundred day simple moving average of $22.16. The firm has a market cap of $4.41 billion, a PE ratio of -23.07 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. Equities analysts forecast that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Timothy Price Crain II sold 150,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the completion of the sale, the senior vice president directly owned 351,279 shares of the company’s stock, valued at $7,682,471.73. This represents a 29.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen J. Altemus sold 13,751 shares of Intuitive Machines 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 $324,661.11. Following the transaction, the chief executive officer directly owned 1,162,495 shares in the company, valued at approximately $27,446,506.95. The trade was a 1.17% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 1,066,527 shares of company stock worth $29,896,194. 54.10% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

A number of hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Intuitive Machines in the 4th quarter worth $28,000. State of Wyoming bought a new position in shares of Intuitive Machines during the 1st quarter worth approximately $39,000. Larson Financial Group LLC raised its stake in shares of Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after acquiring an additional 1,016 shares in the last quarter. GAMMA Investing LLC lifted its position in Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after acquiring an additional 781 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after purchasing an additional 712 shares during the last quarter. Hedge funds and other institutional investors 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.