Intuitive Machines (NASDAQ:LUNR) Trading Up 12.9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 12.9% during mid-day trading on Monday . The stock traded as high as $15.76 and last traded at $15.72. Approximately 11,484,719 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 12,190,417 shares. The stock had previously closed at $13.92.

Analyst Upgrades and Downgrades

LUNR has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research note on Monday. Canaccord Genuity Group decreased their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Roth Capital set a $30.00 target price on Intuitive Machines in a research report on Thursday, August 13th. Finally, Stifel Nicolaus raised Intuitive Machines from a “hold” rating to a “buy” rating and cut their target price for the stock from $32.00 to $26.00 in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Intuitive Machines has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Stock Performance

The firm’s fifty day simple moving average is $15.11 and its 200-day simple moving average is $21.55. The stock has a market cap of $3.60 billion, a P/E ratio of -16.55 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. Analysts predict that Intuitive Machines, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Ghaffarian sold 267,448 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $56,510,398.56. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the sale, the insider owned 11,495,514 shares of the company’s stock, valued at approximately $147,602,399.76. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,193,437 shares of company stock worth $159,377,936 over the last quarter. Company insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the business. Tema ETFs LLC lifted its stake in Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after buying an additional 3,102,854 shares during the period. Tidal Investments LLC bought a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $64,452,000. Renaissance Technologies LLC acquired a new stake in shares of Intuitive Machines during the 1st quarter worth approximately $35,895,000. Bank of America Corp DE grew its position in shares of Intuitive Machines by 188.9% during the 1st 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 during the period. Finally, First Trust Advisors LP increased its stake in shares of Intuitive Machines by 28.8% in the 1st quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock valued at $12,200,000 after acquiring an additional 147,095 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.