Intuitive Machines (NASDAQ:LUNR) Trading Up 10.4% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price shot up 10.4% during trading on Thursday . The company traded as high as $17.33 and last traded at $17.5420. 5,783,967 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 11,054,129 shares. The stock had previously closed at $15.89.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LUNR. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, January 22nd. Roth Mkm reissued a “buy” rating on shares of Intuitive Machines in a report on Wednesday. KeyCorp boosted their price objective on shares of Intuitive Machines from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Canaccord Genuity Group upped their price objective on shares of Intuitive Machines from $15.50 to $22.50 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.27.

Intuitive Machines Stock Up 7.3%

The firm’s 50-day moving average is $17.95 and its 200-day moving average is $12.94. The company has a market cap of $3.07 billion, a PE ratio of -6.88 and a beta of 1.37.

Insider Transactions at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 86,803 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $16.01, for a total value of $1,389,716.03. Following the sale, the chief executive officer directly owned 1,176,246 shares of the company’s stock, valued at $18,831,698.46. This represents a 6.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Vontur sold 4,343 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $17.44, for a total transaction of $75,741.92. Following the completion of the transaction, the insider owned 117,047 shares of the company’s stock, valued at approximately $2,041,299.68. The trade was a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,689,913 shares of company stock valued at $62,240,781 in the last three months. Company insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LBP AM SA grew its stake in shares of Intuitive Machines by 87.2% in the 3rd quarter. LBP AM SA now owns 256,417 shares of the company’s stock worth $2,698,000 after buying an additional 119,419 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Intuitive Machines by 36.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,752 shares of the company’s stock worth $5,121,000 after acquiring an additional 129,896 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Intuitive Machines in the third quarter worth $3,134,000. Ensign Peak Advisors Inc purchased a new stake in shares of Intuitive Machines in the second quarter worth $373,000. Finally, Voya Investment Management LLC increased its holdings in shares of Intuitive Machines by 56.1% during the third quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock valued at $27,948,000 after acquiring an additional 954,778 shares in the last quarter. Hedge funds and other 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.