Intuitive Machines (NASDAQ:LUNR) Shares Up 8.2% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price rose 8.2% during trading on Wednesday . The stock traded as high as $18.67 and last traded at $19.0030. Approximately 3,773,295 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 12,107,537 shares. The stock had previously closed at $17.57.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LUNR. KeyCorp started coverage on Intuitive Machines in a research note on Thursday, December 18th. They issued an “overweight” rating and a $20.00 price objective for the company. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Canaccord Genuity Group upped their price target on shares of Intuitive Machines from $15.50 to $22.50 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus set a $20.00 price target on shares of Intuitive Machines and gave the company a “hold” rating in a research note on Friday, January 9th. Finally, Bank of America boosted their price objective on shares of Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Intuitive Machines Stock Performance

The business has a 50 day moving average price of $12.59 and a 200-day moving average price of $11.34. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -7.69 and a beta of 1.37.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 5,660 shares of Intuitive Machines stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $20.00, for a total value of $113,200.00. Following the completion of the sale, the senior vice president owned 298,435 shares in the company, valued at $5,968,700. The trade was a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen J. Altemus sold 12,669 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $20.00, for a total transaction of $253,380.00. Following the transaction, the chief executive officer owned 1,026,402 shares in the company, valued at $20,528,040. The trade was a 1.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,868,329 shares of company stock valued at $46,252,754 in the last quarter. 39.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in LUNR. Invesco Ltd. increased its position in Intuitive Machines by 19.7% in the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after buying an additional 2,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Intuitive Machines by 43.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock worth $184,000 after purchasing an additional 7,528 shares in the last quarter. Caxton Associates LLP acquired a new stake in Intuitive Machines in the 1st quarter valued at $139,000. Rhumbline Advisers increased its stake in Intuitive Machines by 19.7% during the 1st quarter. Rhumbline Advisers now owns 52,260 shares of the company’s stock valued at $389,000 after purchasing an additional 8,612 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new position in Intuitive Machines during the first quarter worth $11,311,000. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.