Intuitive Machines (NASDAQ:LUNR) Trading Up 15.7% – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were up 15.7% on Wednesday . The company traded as high as $40.70 and last traded at $40.34. Approximately 29,619,030 shares changed hands during trading, an increase of 121% from the average daily volume of 13,390,905 shares. The stock had previously closed at $34.86.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LUNR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Cantor Fitzgerald upped their price objective on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a report on Friday, May 15th. Finally, Canaccord Genuity Group upped their target price on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Trading Up 15.7%

The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of -45.84 and a beta of 1.47. The firm has a 50 day moving average price of $25.82 and a two-hundred day moving average price of $19.02.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Timothy Price Crain II sold 150,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $17.55, for a total value of $2,632,500.00. Following the sale, the senior vice president owned 359,726 shares of the company’s stock, valued at approximately $6,313,191.30. The trade was a 29.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total value of $5,330,102.04. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at $65,631,743.04. This represents a 7.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,048,206 shares of company stock worth $24,782,839. Insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after acquiring an additional 712 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 worth $43,000 after acquiring an additional 781 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Intuitive Machines by 8.8% during the 4th quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock worth $178,000 after acquiring an additional 886 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock worth $206,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake 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 worth $43,000 after acquiring an additional 1,016 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.