Intuitive Machines (NASDAQ:LUNR) Stock Price Up 8.5% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price shot up 8.5% during mid-day trading on Tuesday . The stock traded as high as $19.80 and last traded at $19.9840. 4,607,247 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 12,387,511 shares. The stock had previously closed at $18.42.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, January 22nd. Roth Mkm reiterated a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a report on Wednesday, December 3rd. Finally, Bank of America increased their price objective on Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a report on Wednesday, November 19th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.27.

Intuitive Machines Stock Down 8.0%

The company’s 50-day simple moving average is $15.29 and its 200 day simple moving average is $12.15. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -8.50 and a beta of 1.37.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 24,155 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $20.04, for a total value of $484,066.20. Following the completion of the sale, the senior vice president directly owned 298,435 shares in the company, valued at approximately $5,980,637.40. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 58,828 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $20.03, for a total transaction of $1,178,324.84. Following the completion of the transaction, the chief executive officer owned 1,026,402 shares in the company, valued at $20,558,832.06. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,550,000 shares of company stock valued at $59,924,826. Corporate insiders own 39.75% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors have recently made changes to their positions in LUNR. Invesco Ltd. boosted its stake in Intuitive Machines by 19.7% during the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after purchasing an additional 2,643 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Intuitive Machines by 43.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after acquiring an additional 7,528 shares during the period. Caxton Associates LLP acquired a new stake in shares of Intuitive Machines in the first quarter worth $139,000. Park Avenue Securities LLC grew its stake in shares of Intuitive Machines by 30.6% in the second quarter. Park Avenue Securities LLC now owns 14,258 shares of the company’s stock worth $155,000 after acquiring an additional 3,343 shares during the last quarter. Finally, LBP AM SA increased its position in Intuitive Machines by 17.5% during the second quarter. LBP AM SA now owns 136,998 shares of the company’s stock worth $1,489,000 after acquiring an additional 20,395 shares during the period. 72.21% of the stock is currently owned by institutional investors.

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.