Intuitive Machines, Inc. (NASDAQ:LUNR) Sees Significant Decrease in Short Interest

Intuitive Machines, Inc. (NASDAQ:LUNR) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 14,930,000 shares, a drop of 25.2% from the November 15th total of 19,970,000 shares. Based on an average trading volume of 19,790,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 21.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LUNR. Cantor Fitzgerald increased their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Roth Mkm restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Benchmark raised their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group lowered their price objective on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.10.

Intuitive Machines Price Performance

Shares of LUNR stock traded up $0.01 during trading hours on Friday, reaching $11.69. The company had a trading volume of 9,340,835 shares, compared to its average volume of 10,195,159. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $17.14. The company has a 50 day moving average of $10.44 and a 200 day moving average of $6.81. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -3.97 and a beta of 0.93.

Insider Buying and Selling at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 250,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $9.01, for a total transaction of $2,252,500.00. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $8,207,380.19. This trade represents a 21.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy Price Crain II sold 300,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $8.23, for a total value of $2,469,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at $2,985,926.30. The trade was a 45.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,921,440 shares of company stock valued at $36,971,041. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC bought a new stake in Intuitive Machines in the third quarter valued at approximately $83,000. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines in the 2nd quarter valued at $35,000. The Manufacturers Life Insurance Company bought a new stake in shares of Intuitive Machines in the 3rd quarter valued at $85,000. SG Americas Securities LLC acquired a new stake in Intuitive Machines during the 3rd quarter worth $93,000. Finally, Creative Planning bought a new position in Intuitive Machines during the third quarter worth about $105,000. 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.