Intuitive Machines (NASDAQ:LUNR) Stock Price Up 11.7% – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was up 11.7% on Tuesday . The stock traded as high as $18.52 and last traded at $18.2570. Approximately 5,561,390 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 11,510,646 shares. The stock had previously closed at $16.35.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, January 22nd. KeyCorp lifted their price target on Intuitive Machines from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Roth Mkm restated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, February 25th. Cantor Fitzgerald upped their price objective on Intuitive Machines from $16.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Intuitive Machines from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.94.

Intuitive Machines Stock Performance

The company has a fifty day simple moving average of $18.25 and a two-hundred day simple moving average of $14.46. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -24.71 and a beta of 1.40.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, March 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million. As a group, equities analysts anticipate that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 283,818 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $18.78, for a total value of $5,330,102.04. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at approximately $65,631,743.04. The trade was a 7.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 428,503 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $20.06, for a total transaction of $8,595,770.18. Following the sale, the chief executive officer directly owned 1,026,402 shares of the company’s stock, valued at approximately $20,589,624.12. This trade represents a 29.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,773,731 shares of company stock valued at $33,353,852 in the last 90 days. 39.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Intuitive Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after buying an additional 717,256 shares in the last quarter. Trustees of the University of Pennsylvania acquired a new stake in Intuitive Machines in the fourth quarter valued at about $52,689,000. UBS Group AG boosted its stake in Intuitive Machines by 22.0% in the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock valued at $50,238,000 after buying an additional 557,517 shares in the last quarter. Geode Capital Management LLC grew its position in Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock valued at $44,399,000 after acquiring an additional 61,084 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in 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 worth $28,165,000 after acquiring an additional 415,359 shares in the last quarter. Institutional investors and hedge funds 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.