Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Wednesday . The stock had previously closed at $34.86, but opened at $38.02. Intuitive Machines shares last traded at $38.1530, with a volume of 9,098,297 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 price target on shares of Intuitive Machines in a report on Wednesday, May 20th. Canaccord Genuity Group raised their price target on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday. B. Riley Financial raised their price target on shares of Intuitive Machines to $45.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald raised their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Stock Up 14.4%

The company has a market cap of $8.64 billion, a PE ratio of -45.44 and a beta of 1.47. The business’s 50 day moving average price is $25.82 and its 200-day moving average price is $19.02.

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 firm had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. Equities analysts expect that Intuitive Machines, Inc. will post -0.44 earnings per share for the current year.

Insider Activity

In other news, CEO Stephen J. Altemus sold 13,751 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $324,661.11. Following the completion of the sale, the chief executive officer owned 1,162,495 shares of the company’s stock, valued at approximately $27,446,506.95. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the sale, the chief financial officer directly owned 401,246 shares of the company’s stock, valued at $9,473,418.06. The trade was a 5.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,048,206 shares of company stock worth $24,782,839. Company insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after buying an additional 1,231,188 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Intuitive Machines during the first quarter worth approximately $59,000. Janus Henderson Group PLC grew its position in shares of Intuitive Machines by 38.9% during the first quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock worth $947,000 after buying an additional 14,300 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Intuitive Machines by 28.2% during the first quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock worth $2,347,000 after buying an additional 27,793 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Intuitive Machines by 2.4% during the first quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock worth $996,000 after buying an additional 1,235 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.