Intuitive Machines (NASDAQ:LUNR) Shares Up 7.1% – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price rose 7.1% during trading on Wednesday. The stock traded as high as $11.37 and last traded at $11.2850. 1,569,516 shares changed hands during trading, a decline of 87% from the average session volume of 11,699,532 shares. The stock had previously closed at $10.54.

Analyst Upgrades and Downgrades

Several research firms have commented on LUNR. Zacks Research downgraded Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Roth Capital set a $30.00 price objective on Intuitive Machines in a report on Thursday, August 13th. Canaccord Genuity Group lowered their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, October 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.50.

Intuitive Machines Stock Performance

The company has a market capitalization of $2.39 billion, a PE ratio of -11.00 and a beta of 1.86. The stock’s 50-day simple moving average is $14.73 and its 200 day simple moving average is $20.64.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. On average, analysts expect that Intuitive Machines, Inc. will post -0.60 earnings per share for the current year.

Insider Buying and Selling at Intuitive Machines

In related news, insider Steven Vontur sold 3,050 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at $1,838,771.61. The trade was a 2.61% decrease in their position. The sale was disclosed in a legal filing 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, major shareholder International L.P. Advent sold 11,495,514 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,201,528 shares of company stock valued at $158,629,235 over the last ninety days. 54.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. Calamos Advisors LLC purchased a new position in shares of Intuitive Machines during the 1st quarter worth about $2,984,000. Fifth Third Bancorp acquired a new position in Intuitive Machines in the first quarter worth about $4,314,000. Raiffeisen Bank International AG acquired a new stake in shares of Intuitive Machines during the second quarter worth $3,565,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Intuitive Machines by 202.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock worth $8,567,000 after purchasing an additional 308,755 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Intuitive Machines in the first quarter worth about $35,895,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA’s Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.