Intuitive Machines (NASDAQ:LUNR) Trading Up 8.3% – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 8.3% on Wednesday . The stock traded as high as $18.61 and last traded at $18.21. 5,677,447 shares traded hands during trading, a decline of 60% from the average session volume of 14,067,586 shares. The stock had previously closed at $16.81.

Analyst Ratings Changes

LUNR has been the subject of a number of analyst reports. Benchmark boosted 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. Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. B. Riley increased their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Canaccord Genuity Group lifted their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Trading Down 2.9 %

The stock has a fifty day simple moving average of $14.76 and a 200-day simple moving average of $8.93. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -6.30 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 177,734 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $7.93, for a total value of $1,409,430.62. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $27,713,510.24. This represents a 4.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,954,713 shares of company stock worth $24,475,385. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LUNR. Waldron Private Wealth LLC bought a new stake in Intuitive Machines in the 3rd quarter valued at $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $85,000. SG Americas Securities LLC bought a new stake in Intuitive Machines in the third quarter valued at about $93,000. Creative Planning bought a new stake in Intuitive Machines in the third quarter valued at about $105,000. Finally, LMR Partners LLP acquired a new position in Intuitive Machines in the third quarter worth about $110,000. 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.