Intuitive Machines (NASDAQ:LUNR) Shares Up 16.8% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded up 16.8% on Friday . The company traded as high as $17.10 and last traded at $17.2820. 3,806,821 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 11,805,521 shares. The stock had previously closed at $14.79.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LUNR shares. Roth Mkm reaffirmed a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. Stifel Nicolaus set a $20.00 price target on Intuitive Machines and gave the stock a “hold” rating in a research report on Friday, January 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Intuitive Machines and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Nine 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.27.

Intuitive Machines Price Performance

The business’s 50 day moving average price is $16.30 and its 200 day moving average price is $12.41. The stock has a market capitalization of $3.16 billion, a P/E ratio of -7.09 and a beta of 1.37.

Insider Buying and Selling

In related news, CEO Stephen J. Altemus sold 58,828 shares of Intuitive Machines stock in a transaction on Friday, January 16th. The stock was sold at an average price of $20.03, for a total value of $1,178,324.84. Following the completion of the sale, the chief executive officer owned 1,026,402 shares of the company’s stock, valued at $20,558,832.06. The trade was a 5.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Timothy Price Crain II sold 24,155 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $20.04, for a total value of $484,066.20. Following the sale, the senior vice president owned 298,435 shares of the company’s stock, valued at approximately $5,980,637.40. This trade represents a 7.49% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,550,000 shares of company stock valued at $59,924,826. 39.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in LUNR. International Assets Investment Management LLC purchased a new position in shares of Intuitive Machines in the fourth quarter worth approximately $28,000. Golden State Wealth Management LLC raised 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 during the period. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 781 shares during the last quarter. Larson Financial Group LLC grew its position in shares of 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 acquiring an additional 1,016 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 1,127 shares in the last quarter. Hedge funds and other institutional investors 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.