Intuitive Machines (NASDAQ:LUNR) Shares Up 8.3% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded up 8.3% during mid-day trading on Tuesday. The stock traded as high as $11.29 and last traded at $11.3450. 1,770,111 shares traded hands during trading, a decline of 85% from the average session volume of 11,592,613 shares. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

Several research firms have commented on LUNR. Roth Capital set a $30.00 target price on shares of Intuitive Machines in a research report on Thursday, August 13th. B. Riley Financial cut their price target on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Bank of America boosted their price objective on Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, October 15th. Seven research analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.50.

Intuitive Machines Price Performance

The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -12.20 and a beta of 1.86. The company has a fifty day moving average price of $14.14 and a two-hundred day moving average price of $19.78.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. On average, research analysts expect that Intuitive Machines, Inc. will post -0.60 earnings per share for the current fiscal year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Crain, II sold 50,000 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $15.05, for a total value of $752,500.00. Following the completion of the transaction, the senior vice president directly owned 351,279 shares in the company, valued at $5,286,748.95. This represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 658,711 shares of company stock valued at $10,402,436 over the last ninety days. Insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of LUNR. Mirae Asset Global Investments Co. Ltd. bought a new position in Intuitive Machines during the third quarter valued at about $98,725,000. Tema ETFs LLC lifted its position in shares of Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after buying an additional 3,102,854 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Intuitive Machines during the 2nd quarter worth about $64,452,000. Renaissance Technologies LLC bought a new stake in shares of Intuitive Machines during the 1st quarter worth about $35,895,000. Finally, Bank of America Corp DE boosted its stake in shares of Intuitive Machines by 188.9% during the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after acquiring an additional 1,231,188 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA’s Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.