Intuitive Machines (NASDAQ:LUNR) Sees Large Volume Increase – Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) saw strong trading volume on Monday . 4,238,200 shares were traded during trading, a decline of 57% from the previous session’s volume of 9,827,564 shares.The stock last traded at $14.98 and had previously closed at $15.12.

Wall Street Analysts Forecast Growth

LUNR has been the subject of several research reports. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald boosted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. B. Riley boosted their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Benchmark raised their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $13.10.

Intuitive Machines Stock Performance

The company has a 50-day simple moving average of $8.76 and a 200-day simple moving average of $5.98.

Insider Activity at Intuitive Machines

In related news, SVP Timothy Price Crain II sold 197,637 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total value of $1,195,703.85. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $2,195,000.50. This represents a 35.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 138,568 shares of Intuitive Machines stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total value of $1,538,104.80. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,111,200.90. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,763,571 shares of company stock worth $38,671,383 in the last quarter. 73.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its stake in Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after buying an additional 7,538 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines during the 3rd quarter worth $83,000. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the 2nd quarter worth $35,000. The Manufacturers Life Insurance Company purchased a new position in Intuitive Machines in the third quarter valued at about $85,000. Finally, SG Americas Securities LLC bought a new position in Intuitive Machines in the third quarter worth about $93,000. 72.21% of the stock is currently owned by 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.