Intuitive Machines (NASDAQ:LUNR) Trading Up 5.8% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price rose 5.8% during trading on Friday . The stock traded as high as $20.24 and last traded at $19.79. 15,943,648 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 13,618,783 shares. The stock had previously closed at $18.70.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a report on Wednesday. Canaccord Genuity Group boosted their price target 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. Finally, Cantor Fitzgerald increased their price target on Intuitive Machines from $26.00 to $43.00 and gave the company 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Stock Up 5.8%

The stock has a fifty day moving average of $29.56 and a 200-day moving average of $22.08. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -22.49 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share 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 analyst estimates of $202.95 million. On average, equities analysts forecast that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $39.02, for a total transaction of $5,537,289.18. Following the sale, the director owned 3,494,768 shares in the company, valued at approximately $136,365,847.36. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen J. Altemus sold 13,751 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were 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 of the company’s stock, valued at $27,446,506.95. The trade was a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,066,527 shares of company stock valued at $29,896,194 over the last ninety days. Company insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Intuitive Machines in the fourth quarter valued at approximately $28,000. State of Wyoming acquired a new position in shares of Intuitive Machines in the 1st quarter valued at $39,000. GAMMA Investing LLC increased its holdings in shares of Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after acquiring an additional 781 shares during the period. Larson Financial Group LLC raised its position in Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after purchasing an additional 1,016 shares during the last quarter. Finally, CWM LLC boosted its stake in Intuitive Machines by 406.4% during the 4th quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after purchasing an additional 2,337 shares during the period. 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.