Intuitive Machines (NASDAQ:LUNR) Trading 2% Higher – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded up 2% during trading on Tuesday . The company traded as high as $22.50 and last traded at $21.39. Approximately 13,042,261 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 13,603,167 shares. The stock had previously closed at $20.97.

Analysts Set New Price Targets

LUNR has been the topic of several recent research reports. KeyCorp raised their price objective on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald upped their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Trading Up 2.0%

The firm has a market capitalization of $4.64 billion, a P/E ratio of -24.31 and a beta of 1.68. The company has a 50 day simple moving average of $29.43 and a two-hundred day simple moving average of $22.22.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. On average, sell-side analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Peter Mcgrath sold 24,554 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the completion of the transaction, the chief financial officer owned 401,246 shares in the company, valued at $9,473,418.06. This trade represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen J. Altemus sold 13,751 shares of Intuitive Machines stock in a transaction dated 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 sale, the chief executive officer directly owned 1,162,495 shares in the company, valued at $27,446,506.95. This trade represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,066,527 shares of company stock worth $29,896,194 in the last 90 days. 54.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently bought and sold shares of LUNR. International Assets Investment Management LLC bought a new position in Intuitive Machines during the fourth quarter valued at $28,000. State of Wyoming bought a new stake in shares of Intuitive Machines in the 1st quarter worth about $39,000. GAMMA Investing LLC raised its position in shares of Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after buying an additional 781 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after buying an additional 1,016 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Intuitive Machines by 406.4% in the 4th quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after acquiring an additional 2,337 shares during the last quarter. 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.