Intuitive Machines (NASDAQ:LUNR) Hits New 52-Week High – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $14.93 and last traded at $14.74, with a volume of 10095097 shares. The stock had previously closed at $13.99.

Analyst Upgrades and Downgrades

Several brokerages have commented on LUNR. Cantor Fitzgerald raised 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. Roth Mkm reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. B. Riley upped their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group raised their price target on shares of Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Trading Up 8.7 %

The stock has a market capitalization of $1.96 billion, a P/E ratio of -5.21 and a beta of 0.35. The business has a 50-day moving average price of $8.58 and a two-hundred day moving average price of $5.91.

Insider Activity

In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the sale, the chief financial officer now owns 117,500 shares in the company, valued at approximately $655,650. This represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of Intuitive Machines stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $10,020,109. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,763,571 shares of company stock worth $38,671,383. 73.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after purchasing an additional 429,531 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after acquiring an additional 222,136 shares during the period. Squarepoint Ops LLC acquired a new position in Intuitive Machines during the 2nd quarter valued at about $536,000. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines in the second quarter worth about $272,000. Finally, Stifel Financial Corp acquired a new stake in shares of Intuitive Machines during the third quarter worth approximately $525,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.