Intuitive Machines (NASDAQ:LUNR) Trading 7.1% Higher – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares rose 7.1% during mid-day trading on Tuesday . The company traded as high as $15.79 and last traded at $15.61. Approximately 4,933,029 shares were traded during trading, a decline of 52% from the average daily volume of 10,348,559 shares. The stock had previously closed at $14.58.

Analysts Set New Price Targets

A number of equities analysts recently commented on LUNR shares. Canaccord Genuity Group cut their price objective on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a research note on Friday, December 6th. B. Riley increased their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Benchmark boosted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald increased their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $14.10.

Intuitive Machines Trading Up 12.0 %

The stock’s 50-day moving average price is $11.03 and its 200-day moving average price is $7.12. The company has a market cap of $2.29 billion, a P/E ratio of -5.55 and a beta of 0.93.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 125,991 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $7.43, for a total transaction of $936,113.13. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $25,966,126.24. The trade was a 3.48 % 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. Also, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,701,785 shares of company stock valued at $18,458,666 over the last ninety days. 73.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. bought a new position in Intuitive Machines during the second quarter valued at $35,000. Sender Co & Partners Inc. bought a new position in shares of Intuitive Machines during the 2nd quarter worth $56,000. Waldron Private Wealth LLC purchased a new stake in Intuitive Machines in the 3rd quarter worth about $83,000. The Manufacturers Life Insurance Company bought a new stake in Intuitive Machines in the 3rd quarter valued at about $85,000. Finally, SG Americas Securities LLC bought a new position in Intuitive Machines during the third quarter worth about $93,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.