Intuitive Machines (NASDAQ:LUNR) Trading 8.1% Higher – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shot up 8.1% during trading on Tuesday . The stock traded as high as $22.40 and last traded at $21.21. 10,512,767 shares were traded during mid-day trading, a decline of 22% from the average session volume of 13,502,047 shares. The stock had previously closed at $19.62.

Analysts Set New Price Targets

LUNR has been the subject of a number of research reports. Canaccord Genuity Group upped their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Benchmark upped their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America started coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price for the company. Finally, Cantor Fitzgerald boosted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuitive Machines presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

Intuitive Machines Stock Up 3.3 %

The stock’s 50-day simple moving average is $18.30 and its 200 day simple moving average is $11.62. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -6.89 and a beta of 0.92.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 9,266 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the transaction, the insider now owns 98,656 shares of the company’s stock, valued at $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 771,632 shares of company stock valued at $12,947,078 over the last 90 days. 73.68% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Intuitive Machines during the fourth quarter worth about $44,000. Jones Financial Companies Lllp lifted its position in shares of Intuitive Machines by 751.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after purchasing an additional 3,381 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines during the third quarter worth about $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the third quarter worth about $85,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Intuitive Machines by 201.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors and hedge funds 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.