Intuitive Machines (NASDAQ:LUNR) Shares Up 6.9% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) was up 6.9% on Monday . The stock traded as high as $19.60 and last traded at $19.68. Approximately 2,254,876 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 13,785,128 shares. The stock had previously closed at $18.40.

Analysts Set New Price Targets

LUNR has been the topic of a number of recent research reports. Benchmark lifted their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Cantor Fitzgerald boosted their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Canaccord Genuity Group upped their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Bank of America started coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Intuitive Machines currently has an average rating of “Moderate Buy” and a consensus price target of $15.83.

Intuitive Machines Price Performance

The business has a 50-day simple moving average of $17.76 and a two-hundred day simple moving average of $11.19. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -6.17 and a beta of 0.92.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the sale, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total value of $5,684,713.92. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at $52,561,310.72. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 771,632 shares of company stock worth $12,947,078. 73.68% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in LUNR. SG Americas Securities LLC acquired a new position in Intuitive Machines in the 3rd quarter valued at $93,000. Creative Planning bought a new stake in shares of Intuitive Machines in the third quarter valued at about $105,000. Waldron Private Wealth LLC acquired a new position in shares of Intuitive Machines in the third quarter valued at about $83,000. Hennion & Walsh Asset Management Inc. bought a new position in Intuitive Machines during the third quarter worth about $189,000. Finally, AlphaCentric Advisors LLC bought a new position in Intuitive Machines during the third quarter worth about $121,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.