Intuitive Machines (NASDAQ:LUNR) Shares Up 6.7% After Insider Buying Activity

Intuitive Machines, Inc. (NASDAQ:LUNR) shares rose 6.7% on Friday after an insider bought additional shares in the company. The stock traded as high as $9.34 and last traded at $9.2420. Approximately 3,697,384 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 9,559,667 shares. The stock had previously closed at $8.66.

Specifically, Director Michael Blitzer bought 100,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $8.83 per share, with a total value of $883,000.00. Following the completion of the purchase, the director owned 1,931,248 shares of the company’s stock, valued at $17,052,919.84. This represents a 5.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Blitzer acquired 141,080 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average price of $9.27 per share, with a total value of $1,307,811.60. Following the transaction, the director owned 1,831,248 shares in the company, valued at $16,975,668.96. This represents a 8.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $18.00 target price on shares of Intuitive Machines and gave the stock a “buy” rating in a research note on Friday, October 17th. Roth Capital reiterated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, November 4th. UBS Group restated a “buy” rating on shares of Intuitive Machines in a research note on Monday, August 18th. Zacks Research raised Intuitive Machines to a “strong sell” rating in a report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.40.

Intuitive Machines Stock Performance

The company has a fifty day moving average of $10.76 and a two-hundred day moving average of $10.61. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -2.91 and a beta of 1.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tealwood Asset Management Inc. raised its position in shares of Intuitive Machines by 4.4% during the third quarter. Tealwood Asset Management Inc. now owns 21,250 shares of the company’s stock worth $224,000 after acquiring an additional 900 shares during the last quarter. Philadelphia Trust Co. lifted its position in shares of Intuitive Machines by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company’s stock worth $82,000 after purchasing an additional 1,000 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Intuitive Machines by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock valued at $47,000 after purchasing an additional 1,127 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Intuitive Machines by 12.5% during the second quarter. Tower Research Capital LLC TRC now owns 13,478 shares of the company’s stock worth $147,000 after buying an additional 1,499 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in Intuitive Machines by 180.0% during the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after buying an additional 1,800 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.