Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up before the market opened on Wednesday . The stock had previously closed at $34.86, but opened at $38.02. Intuitive Machines shares last traded at $38.1530, with a volume of 9,098,297 shares trading hands.

Analyst Upgrades and Downgrades

LUNR has been the topic of several research reports. KeyCorp lifted their price target on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald lifted their price target on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. B. Riley Financial boosted their target price on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Canaccord Genuity Group boosted their target price on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Up 13.3%

The company has a fifty day simple moving average of $26.81 and a 200 day simple moving average of $19.50. The firm has a market capitalization of $9.92 billion, a P/E ratio of -51.93 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. As a group, equities analysts expect that Intuitive Machines, Inc. will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Stephen J. Altemus sold 13,751 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $324,661.11. Following the completion of the transaction, the chief executive officer owned 1,162,495 shares in the company, valued at $27,446,506.95. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total value of $5,330,102.04. Following the completion of the transaction, the director owned 3,494,768 shares of the company’s stock, valued at $65,631,743.04. This represents a 7.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,048,206 shares of company stock worth $24,782,839 over the last three months. Company insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new position in shares of Intuitive Machines in the fourth quarter worth $28,000. State of Wyoming purchased a new position in shares of Intuitive Machines in the first quarter worth $39,000. GAMMA Investing LLC raised its stake in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Intuitive Machines by 406.4% in the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after purchasing an additional 2,337 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.