Intuitive Machines (NASDAQ:LUNR) Trading 8.5% Higher – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price shot up 8.5% during trading on Tuesday . The company traded as high as $19.80 and last traded at $19.9840. 4,607,247 shares changed hands during trading, a decline of 63% from the average session volume of 12,387,511 shares. The stock had previously closed at $18.42.

Analyst Ratings Changes

A number of research analysts have issued reports on LUNR shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. B. Riley boosted their price target on shares of Intuitive Machines from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Bank of America increased their price target on shares of Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research note on Wednesday, November 19th. KeyCorp assumed coverage on Intuitive Machines in a research report on Thursday, December 18th. They set an “overweight” rating and a $20.00 price objective on the stock. Finally, Roth Mkm reissued a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.73.

Intuitive Machines Stock Up 10.2%

The stock’s fifty day simple moving average is $14.53 and its two-hundred day simple moving average is $11.95. The firm has a market cap of $3.66 billion, a PE ratio of -8.21 and a beta of 1.37.

Insider Activity at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 58,828 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $20.03, for a total transaction of $1,178,324.84. Following the completion of the transaction, the chief executive officer directly owned 1,026,402 shares in the company, valued at $20,558,832.06. This trade represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 24,155 shares of Intuitive Machines stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $20.04, for a total value of $484,066.20. Following the completion of the transaction, the senior vice president directly owned 298,435 shares of the company’s stock, valued at approximately $5,980,637.40. This represents a 7.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,550,000 shares of company stock worth $59,924,826 in the last 90 days. 39.75% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently bought and sold shares of LUNR. First Trust Advisors LP raised its holdings in Intuitive Machines by 3,582.9% in the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after acquiring an additional 2,386,688 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Intuitive Machines by 5,262.9% during the 3rd quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock valued at $14,095,000 after buying an additional 1,314,888 shares during the period. Geode Capital Management LLC grew its position in shares of Intuitive Machines by 78.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,593,135 shares of the company’s stock valued at $28,191,000 after acquiring an additional 1,141,454 shares during the period. Voya Investment Management LLC lifted its position in Intuitive Machines by 56.1% during the third quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock valued at $27,948,000 after purchasing an additional 954,778 shares in the last quarter. Finally, ARK Investment Management LLC grew its holdings in Intuitive Machines by 78.9% during the third quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock valued at $21,810,000 after purchasing an additional 914,458 shares during the period. 72.21% of the stock is currently 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.