Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $9.73, but opened at $10.35. Intuitive Machines shares last traded at $9.69, with a volume of 6,095,009 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LUNR shares. Roth Mkm reiterated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Monday, September 30th. Benchmark restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, B. Riley upped their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $10.60.

Intuitive Machines Price Performance

The business’s fifty day moving average is $7.54 and its two-hundred day moving average is $5.55.

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

Insider Activity

In related news, CEO Stephen J. Altemus sold 250,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $9.01, for a total value of $2,252,500.00. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $8,207,380.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total transaction of $57,328.92. Following the transaction, the chief financial officer now owns 117,500 shares of the company’s stock, valued at approximately $655,650. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 250,000 shares of Intuitive Machines stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $9.01, for a total transaction of $2,252,500.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $8,207,380.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,289,148 shares of company stock valued at $32,122,346 in the last three months. 73.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC grew its position in Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after buying an additional 20,916 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Intuitive Machines by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after purchasing an additional 32,015 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Intuitive Machines during the third quarter valued at approximately $110,000. AlphaCentric Advisors LLC acquired a new stake in Intuitive Machines during the 3rd quarter valued at approximately $121,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Intuitive Machines during the third quarter worth approximately $189,000. Hedge funds and other institutional investors 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.