Intuitive Machines (NASDAQ:LUNR) Stock Price Up 11.4% – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 11.4% on Friday . The company traded as high as $26.29 and last traded at $26.8620. Approximately 2,162,101 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 12,471,716 shares. The stock had previously closed at $24.11.

Analyst Ratings Changes

LUNR has been the topic of several analyst reports. Cantor Fitzgerald increased their target price on shares of Intuitive Machines from $16.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intuitive Machines from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Roth Mkm upped their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Canaccord Genuity Group upped their price target on shares of Intuitive Machines from $22.50 to $24.00 and gave the company a “buy” rating in a report on Friday, March 20th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines has a consensus rating of “Hold” and a consensus price target of $21.55.

Intuitive Machines Price Performance

The company’s 50 day moving average is $21.51 and its two-hundred day moving average is $16.98. The firm has a market cap of $6.07 billion, a P/E ratio of -37.84 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, March 19th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $44.79 million during the quarter, compared to the consensus estimate of $53.37 million. Research analysts predict that Intuitive Machines, Inc. will post -0.04 EPS for the current year.

Insider Activity

In related 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 value 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 $27,446,506.95. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 that occurred on Wednesday, April 15th. The shares were 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 approximately $9,473,418.06. The trade was a 5.77% decrease in their ownership of the stock. 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 ninety days, insiders sold 1,046,210 shares of company stock worth $22,238,410. Corporate insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of LUNR. PNC Financial Services Group Inc. lifted its position in Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after acquiring an additional 712 shares in the last quarter. GAMMA Investing LLC increased its stake in Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after buying an additional 781 shares during the last quarter. Sigma Planning Corp increased its stake in Intuitive Machines by 8.8% in the 4th quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock valued at $178,000 after buying an additional 886 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in Intuitive Machines by 9.9% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock valued at $206,000 after buying an additional 1,000 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake 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 worth $43,000 after purchasing an additional 1,016 shares during the last quarter. 72.21% of the stock is owned by 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.