Intuitive Machines Target of Unusually High Options Trading (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR) saw some unusual options trading activity on Wednesday. Investors purchased 158,849 call options on the company. This represents an increase of approximately 1,205% compared to the average daily volume of 12,175 call options.

Wall Street Analyst Weigh In

LUNR has been the topic of a number of analyst reports. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday. B. Riley increased their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday. Finally, Benchmark reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines presently has an average rating of “Buy” and an average target price of $10.60.

Intuitive Machines Stock Performance

Shares of Intuitive Machines stock opened at $9.28 on Friday. The stock has a market cap of $1.16 billion, a PE ratio of 22.63 and a beta of 0.26. The firm has a 50-day moving average of $4.71 and a 200-day moving average of $4.91. Intuitive Machines has a 52-week low of $2.09 and a 52-week high of $13.25.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. Equities research analysts predict that Intuitive Machines will post 0.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Stephen J. Altemus sold 203,018 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total transaction of $919,671.54. Following the completion of the sale, the chief executive officer now owns 910,919 shares in the company, valued at approximately $4,126,463.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuitive Machines news, SVP Timothy Price Crain II sold 143,989 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $4.04, for a total transaction of $581,715.56. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $1,465,752.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 203,018 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total transaction of $919,671.54. Following the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $4,126,463.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,827,154 shares of company stock worth $9,893,973. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. acquired a new position in Intuitive Machines in the 2nd quarter valued at approximately $35,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Intuitive Machines during the first quarter worth $67,000. Sender Co & Partners Inc. acquired a new stake in shares of Intuitive Machines during the second quarter worth $56,000. Sanders Morris Harris LLC acquired a new stake in shares of Intuitive Machines during the first quarter worth $119,000. Finally, Deuterium Capital Management LLC acquired a new stake in shares of Intuitive Machines during the first quarter worth $125,000. 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.