Intuitive Machines (NASDAQ:LUNR) Trading Up 8.4% – Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 8.4% on Wednesday . The stock traded as high as $18.40 and last traded at $18.0240. 4,172,792 shares were traded during mid-day trading, a decline of 62% from the average session volume of 11,088,586 shares. The stock had previously closed at $16.62.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LUNR shares. Bank of America upped their price target on Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research note on Wednesday, November 19th. Canaccord Genuity Group lifted their target price on shares of Intuitive Machines from $15.50 to $22.50 and gave the company a “buy” rating in a report on Monday, January 12th. Stifel Nicolaus set a $20.00 price objective on shares of Intuitive Machines and gave the company a “hold” rating in a research report on Friday, January 9th. B. Riley Financial reiterated a “buy” rating on shares of Intuitive Machines in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a report on Wednesday, December 3rd. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.27.

Intuitive Machines Trading Up 6.7%

The firm has a 50 day moving average of $17.19 and a two-hundred day moving average of $12.66. The stock has a market capitalization of $3.20 billion, a PE ratio of -7.18 and a beta of 1.37.

Insider Buying and Selling at Intuitive Machines

In related news, SVP Timothy Price Crain II sold 200,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $16.04, for a total value of $3,208,000.00. Following the sale, the senior vice president directly owned 298,435 shares in the company, valued at $4,786,897.40. The trade was a 40.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 1,958,593 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $15.77, for a total transaction of $30,887,011.61. Following the completion of the sale, the chief executive officer directly owned 1,026,402 shares in the company, valued at approximately $16,186,359.54. The trade was a 65.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,689,913 shares of company stock valued at $62,240,781 in the last ninety days. Corporate insiders own 39.75% of the company’s stock.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its stake in shares of Intuitive Machines by 56.1% during the 2nd quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock worth $12,596,000 after purchasing an additional 416,337 shares during the last quarter. LBP AM SA lifted its stake in shares of Intuitive Machines by 87.2% during the third quarter. LBP AM SA now owns 256,417 shares of the company’s stock valued at $2,698,000 after buying an additional 119,419 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Intuitive Machines by 36.4% during 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 during the last quarter. SG Americas Securities LLC purchased a new stake in Intuitive Machines in the 3rd quarter worth approximately $3,134,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Intuitive Machines in the second quarter valued at $373,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.