Intuitive Machines (NASDAQ:LUNR) Trading Up 4% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) was up 4% on Thursday . The company traded as high as $12.48 and last traded at $12.13. Approximately 3,749,246 shares traded hands during trading, a decline of 63% from the average daily volume of 10,168,513 shares. The stock had previously closed at $11.66.

Analyst Ratings Changes

Several analysts have issued reports on LUNR shares. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Canaccord Genuity Group dropped their price target on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a research note on Friday, December 6th. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, B. Riley upped their price target 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $14.10.

Intuitive Machines Price Performance

The stock’s 50-day moving average price is $10.27 and its 200-day moving average price is $6.72. The company has a market cap of $1.66 billion, a P/E ratio of -3.97 and a beta of 0.93.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 125,991 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $7.43, for a total value of $936,113.13. Following the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $25,966,126.24. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy Price Crain II sold 300,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $8.23, for a total transaction of $2,469,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $2,985,926.30. This represents a 45.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,921,440 shares of company stock worth $36,971,041 in the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUNR. Vanguard Group Inc. increased its stake in shares of Intuitive Machines by 250.0% in the 1st 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 during the last quarter. Bank of New York Mellon Corp acquired a new stake in Intuitive Machines in the second quarter valued at about $272,000. Rhumbline Advisers bought a new position in Intuitive Machines in the second quarter valued at about $119,000. Wedbush Securities Inc. acquired a new position in Intuitive Machines during the second quarter worth about $35,000. Finally, XTX Topco Ltd bought a new position in shares of Intuitive Machines in the second quarter worth about $164,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.