Intuitive Machines (NASDAQ:LUNR) Trading Up 3.7% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price rose 3.7% during trading on Friday . The stock traded as high as $19.86 and last traded at $19.76. Approximately 3,771,927 shares changed hands during trading, a decline of 72% from the average daily volume of 13,674,678 shares. The stock had previously closed at $19.06.

Analysts Set New Price Targets

LUNR has been the topic of several recent analyst reports. Benchmark lifted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald upped their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Canaccord Genuity Group boosted their price target on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, B. Riley lifted 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Price Performance

The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -6.42 and a beta of 0.90. The firm has a 50-day moving average of $14.76 and a 200 day moving average of $8.93.

Insider Activity

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 344,893 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $8.02, for a total value of $2,766,041.86. Following the sale, the director now owns 3,494,768 shares in the company, valued at $28,028,039.36. This represents a 8.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $4,840,000.00. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,954,713 shares of company stock valued at $24,475,385. 73.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Intuitive Machines in the second quarter valued at about $272,000. Rhumbline Advisers bought a new stake in shares of Intuitive Machines during the second quarter worth approximately $119,000. XTX Topco Ltd bought a new position in shares of Intuitive Machines during the second quarter worth approximately $164,000. Squarepoint Ops LLC bought a new position in Intuitive Machines during the 2nd quarter worth $536,000. Finally, Sender Co & Partners Inc. bought a new stake in shares of Intuitive Machines in the second quarter valued at about $56,000. Institutional investors own 72.21% of the company’s stock.

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.