Intuitive Machines (NASDAQ:LUNR) Trading Up 6.7% After Insider Buying Activity

Intuitive Machines, Inc. (NASDAQ:LUNR) shares shot up 6.7% during trading on Friday following insider buying activity. The company traded as high as $9.34 and last traded at $9.2420. 3,697,384 shares changed hands during trading, a decline of 61% from the average session volume of 9,559,667 shares. The stock had previously closed at $8.66.

Specifically, Director Michael Blitzer acquired 100,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $8.83 per share, for a total transaction of $883,000.00. Following the purchase, the director directly owned 1,931,248 shares of the company’s stock, valued at $17,052,919.84. The trade was a 5.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Blitzer purchased 141,080 shares of Intuitive Machines stock in a transaction on Wednesday, November 12th. The stock was bought at an average price of $9.27 per share, with a total value of $1,307,811.60. Following the completion of the acquisition, the director directly owned 1,831,248 shares of the company’s stock, valued at approximately $16,975,668.96. This trade represents a 8.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

LUNR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $18.00 target price on Intuitive Machines and gave the company a “buy” rating in a research report on Friday, October 17th. Zacks Research raised shares of Intuitive Machines to a “strong sell” rating in a research report on Monday, August 11th. Roth Capital reaffirmed a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. Bank of America decreased their price target on Intuitive Machines from $10.50 to $8.50 and set an “underperform” rating for the company in a report on Monday, August 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and an average target price of $15.40.

Intuitive Machines Stock Up 8.6%

The company has a market cap of $1.68 billion, a PE ratio of -2.91 and a beta of 1.42. The stock has a 50-day moving average of $10.76 and a 200-day moving average of $10.61.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LUNR. Golden State Wealth Management LLC grew its position in Intuitive Machines by 180.0% in the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after acquiring an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Intuitive Machines by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock worth $47,000 after buying an additional 1,127 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Intuitive Machines in the third quarter worth approximately $94,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Intuitive Machines in the 3rd quarter worth approximately $109,000. Finally, Sigma Planning Corp purchased a new stake in shares of Intuitive Machines in the 1st quarter valued at $78,000. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.