Intuitive Machines (NASDAQ:LUNR) Trading Up 4.6% – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was up 4.6% during trading on Friday . The company traded as high as $18.52 and last traded at $18.49. Approximately 2,226,204 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 10,876,781 shares. The stock had previously closed at $17.67.

Wall Street Analyst Weigh In

Several research firms have issued reports on LUNR. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Canaccord Genuity Group lifted their target price on shares of Intuitive Machines from $15.50 to $22.50 and gave the stock a “buy” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research report on Thursday, January 22nd. Roth Mkm reiterated a “buy” rating on shares of Intuitive Machines in a report on Wednesday, February 25th. Finally, B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, February 17th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.27.

Intuitive Machines Stock Performance

The company has a market capitalization of $3.27 billion, a P/E ratio of -7.35 and a beta of 1.40. The business has a fifty day moving average of $18.25 and a 200-day moving average of $13.25.

Insiders Place Their Bets

In related news, SVP Timothy Price Crain II sold 23,226 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total value of $405,061.44. Following the completion of the transaction, the senior vice president directly owned 359,726 shares of the company’s stock, valued at approximately $6,273,621.44. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter Mcgrath sold 25,541 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total value of $445,435.04. Following the sale, the chief financial officer owned 425,800 shares in the company, valued at approximately $7,425,952. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,689,913 shares of company stock valued at $62,240,781. Insiders own 39.75% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently modified their holdings of LUNR. Vanguard Group Inc. boosted its holdings in Intuitive Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock valued at $64,067,000 after acquiring an additional 717,256 shares during the period. Trustees of the University of Pennsylvania bought a new stake in shares of Intuitive Machines during the 4th quarter valued at $52,689,000. UBS Group AG grew its holdings in Intuitive Machines by 22.0% in the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock worth $50,238,000 after purchasing an additional 557,517 shares during the period. Geode Capital Management LLC increased its position in Intuitive Machines by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock valued at $44,399,000 after buying an additional 61,084 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Intuitive Machines by 18.4% during the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after acquiring an additional 415,359 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other 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.