Intuitive Machines (NASDAQ:LUNR) Stock Price Up 2% – Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were up 2% during mid-day trading on Tuesday . The company traded as high as $22.50 and last traded at $21.39. 13,042,261 shares traded hands during trading, a decline of 4% from the average daily volume of 13,603,167 shares. The stock had previously closed at $20.97.

Wall Street Analysts Forecast Growth

LUNR has been the topic of several recent research reports. Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Canaccord Genuity Group lifted their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Roth Mkm increased their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a 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 given a Sell rating to the stock. Based on data from MarketBeat, Intuitive Machines presently has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Price Performance

The stock has a market capitalization of $4.64 billion, a PE ratio of -24.31 and a beta of 1.68. The firm has a fifty day moving average price of $29.43 and a two-hundred day moving average price of $22.22.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. On average, research analysts expect that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 13,751 shares of the firm’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 transaction, the chief executive officer owned 1,162,495 shares of the company’s stock, valued at $27,446,506.95. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Peter Mcgrath sold 24,554 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the completion of the transaction, the chief financial officer directly owned 401,246 shares in the company, valued at $9,473,418.06. This represents a 5.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 1,066,527 shares of company stock valued at $29,896,194. 54.10% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at approximately $28,000. State of Wyoming purchased a new position in Intuitive Machines during the 1st quarter worth $39,000. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 781 shares during the period. Larson Financial Group LLC raised its position in Intuitive Machines by 63.2% during 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 in the last quarter. Finally, CWM LLC lifted its holdings in shares of Intuitive Machines by 406.4% in the 4th quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after buying an additional 2,337 shares during the period. Institutional investors own 72.21% of the company’s stock.

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.