Intuitive Machines (NASDAQ:LUNR) Stock Price Up 3.6% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded up 3.6% on Wednesday . The stock traded as high as $14.14 and last traded at $13.96. 3,717,372 shares were traded during trading, a decline of 72% from the average session volume of 13,510,383 shares. The stock had previously closed at $13.47.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald upped their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Benchmark boosted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group lowered their target price on shares of Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. Finally, Bank of America began coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.57.

Intuitive Machines Stock Performance

The firm has a market capitalization of $1.23 billion, a P/E ratio of -2.98 and a beta of 1.01. The company has a 50-day simple moving average of $18.86 and a two-hundred day simple moving average of $12.63.

Insider Buying and Selling at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total value of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s 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 sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 393,659 shares of company stock valued at $7,262,364. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUNR. Quarry LP bought a new stake in Intuitive Machines during the fourth quarter valued at about $44,000. Jones Financial Companies Lllp grew its holdings in Intuitive Machines by 751.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after buying an additional 3,381 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines during the 3rd quarter valued at approximately $85,000. Steward Partners Investment Advisory LLC lifted its position in Intuitive Machines by 201.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock valued at $90,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in Intuitive Machines in the fourth quarter worth about $91,000. 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.