Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Wednesday . The stock had previously closed at $15.40, but opened at $16.71. Intuitive Machines shares last traded at $17.05, with a volume of 3,604,150 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LUNR. Canaccord Genuity Group increased their price target on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Bank of America initiated coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target on the stock. Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft started coverage on Intuitive Machines in a research report on Tuesday. They set a “hold” rating and a $18.00 target price on the stock. Finally, 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 report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Intuitive Machines has a consensus rating of “Moderate Buy” and an average target price of $16.14.

Intuitive Machines Stock Performance

The firm has a market capitalization of $2.40 billion, a PE ratio of -5.83 and a beta of 0.92. The stock has a fifty day moving average price of $19.03 and a 200-day moving average price of $12.25.

Insiders Place Their Bets

In related news, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the transaction, the insider now owns 104,272 shares in the company, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 771,632 shares of company stock valued at $12,947,078. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth about $93,000. Creative Planning acquired a new stake in shares of Intuitive Machines during the third quarter valued at about $105,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at approximately $189,000. AlphaCentric Advisors LLC acquired a new position in shares of Intuitive Machines in the 3rd quarter worth approximately $121,000. Finally, LMR Partners LLP purchased a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $110,000. Hedge funds and other 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.