Intuitive Machines (NASDAQ:LUNR) Stock Price Up 20.8% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was up 20.8% during trading on Tuesday . The stock traded as high as $22.75 and last traded at $22.35. Approximately 15,258,493 shares changed hands during trading, an increase of 10% from the average daily volume of 13,928,716 shares. The stock had previously closed at $18.51.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LUNR shares. Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Canaccord Genuity Group boosted their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Benchmark boosted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Stock Performance

The firm has a market cap of $3.11 billion, a PE ratio of -7.54 and a beta of 0.90. The stock’s 50 day simple moving average is $15.74 and its 200 day simple moving average is $9.51.

Insiders Place Their Bets

In other news, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,609,820 shares of company stock valued at $21,709,343 in the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently made changes to their positions in the business. Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines in the 2nd quarter valued at $56,000. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at $83,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at $85,000. SG Americas Securities LLC purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at $93,000. Finally, Creative Planning purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at $105,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.