Intuitive Machines (NASDAQ:LUNR) Trading 5.5% Higher After Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price shot up 5.5% during trading on Friday after B. Riley raised their price target on the stock from $8.00 to $12.00. B. Riley currently has a buy rating on the stock. Intuitive Machines traded as high as $9.85 and last traded at $9.79. 22,063,604 shares changed hands during trading, an increase of 172% from the average session volume of 8,109,871 shares. The stock had previously closed at $9.28.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday. Roth Mkm restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Wednesday. Finally, Benchmark reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $10.60.

Insider Buying and Selling at Intuitive Machines

In related news, Director Michael Blitzer sold 662,673 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $8.19, for a total value of $5,427,291.87. Following the sale, the director now directly owns 1,062,865 shares of the company’s stock, valued at $8,704,864.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Michael Blitzer sold 662,673 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $8.19, for a total transaction of $5,427,291.87. Following the sale, the director now owns 1,062,865 shares of the company’s stock, valued at $8,704,864.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 203,018 shares of the company’s 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 completion of the sale, the chief executive officer now 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 three months, insiders have sold 3,039,827 shares of company stock valued at $20,042,765. 73.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares during the last quarter. Wedbush Securities Inc. bought a new stake in Intuitive Machines during the 2nd quarter valued at about $35,000. Sanders Morris Harris LLC bought a new stake in Intuitive Machines during the 1st quarter valued at about $119,000. Inscription Capital LLC purchased a new position in Intuitive Machines in the first quarter worth about $304,000. Finally, Tealwood Asset Management Inc. bought a new position in shares of Intuitive Machines in the first quarter worth approximately $131,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Down 1.4 %

The stock has a market cap of $1.14 billion, a PE ratio of 22.32 and a beta of 0.26. The stock’s fifty day moving average price is $4.81 and its 200 day moving average price is $4.93.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. On average, equities research analysts expect that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

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.