Intuitive Machines (NASDAQ:LUNR) Trading Up 0.4% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) was up 0.4% during mid-day trading on Thursday . The company traded as high as $7.34 and last traded at $7.29. Approximately 2,435,293 shares were traded during trading, a decline of 79% from the average daily volume of 11,580,730 shares. The stock had previously closed at $7.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LUNR shares. Canaccord Genuity Group decreased their price target on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Roth Mkm cut their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Bank of America assumed coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective for the company. Finally, Roth Capital set a $20.00 price objective on Intuitive Machines in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Intuitive Machines Stock Down 2.8 %

The stock has a market capitalization of $990.29 million, a price-to-earnings ratio of -2.41 and a beta of 1.01. The company’s 50-day simple moving average is $16.67 and its 200 day simple moving average is $12.82.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Vontur sold 9,266 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the sale, the insider now owns 98,656 shares of the company’s stock, valued at approximately $2,219,760. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 392,713 shares of company stock valued at $7,250,066 over the last three months. 73.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Intuitive Machines during the fourth quarter worth about $44,000. Jones Financial Companies Lllp raised its stake in shares of Intuitive Machines by 751.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after acquiring an additional 3,381 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines in the third quarter valued at approximately $85,000. Steward Partners Investment Advisory LLC raised its stake in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock valued at $90,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of Intuitive Machines in the fourth quarter valued at approximately $91,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.