Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Wednesday . The stock had previously closed at $15.40, but opened at $16.71. Intuitive Machines shares last traded at $17.05, with a volume of 3,604,150 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America began coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday. They issued a “hold” rating and a $18.00 price objective on the stock. Canaccord Genuity Group upped their target price 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, Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.14.

Intuitive Machines Stock Performance

The company’s 50-day moving average is $19.03 and its 200-day moving average is $12.25. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -5.83 and a beta of 0.92.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PharVision Advisers LLC bought a new stake in shares of Intuitive Machines in the 4th quarter valued at $185,000. Voloridge Investment Management LLC bought a new stake in Intuitive Machines during the fourth quarter valued at $3,768,000. Soviero Asset Management LP grew its holdings in Intuitive Machines by 65.0% during the 4th quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after acquiring an additional 130,000 shares during the period. Two Sigma Advisers LP acquired a new stake in Intuitive Machines during the 4th quarter worth about $4,971,000. Finally, Two Sigma Investments LP bought a new position in shares of Intuitive Machines in the 4th quarter worth about $33,255,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

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.