Intuitive Machines (NASDAQ:LUNR) Shares Up 11.7% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded up 11.7% on Tuesday . The company traded as high as $18.52 and last traded at $18.2570. 5,561,390 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 11,510,646 shares. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LUNR shares. Roth Mkm reissued a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, February 25th. Canaccord Genuity Group boosted their price target on Intuitive Machines from $22.50 to $24.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. B. Riley Financial reaffirmed a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Intuitive Machines from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Stifel Nicolaus boosted their target price on Intuitive Machines from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, March 23rd. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Intuitive Machines has an average rating of “Hold” and a consensus target price of $19.94.

Intuitive Machines Stock Up 9.1%

The stock’s fifty day moving average price is $18.21 and its 200 day moving average price is $14.57. The stock has a market cap of $4.39 billion, a PE ratio of -27.35 and a beta of 1.40.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $44.79 million during the quarter, compared to analysts’ expectations of $53.37 million. On average, equities research analysts expect that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Stephen J. Altemus sold 428,503 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $20.06, for a total transaction of $8,595,770.18. Following the sale, the chief executive officer owned 1,026,402 shares of the company’s stock, valued at $20,589,624.12. This trade represents a 29.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total transaction of $5,330,102.04. Following the completion of the sale, the director owned 3,494,768 shares in the company, valued at $65,631,743.04. This represents a 7.51% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,773,731 shares of company stock valued at $33,353,852. Company insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in shares of Intuitive Machines by 19.7% in the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock worth $120,000 after buying an additional 2,643 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Intuitive Machines by 43.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after acquiring an additional 7,528 shares during the last quarter. Caxton Associates LLP bought a new position in Intuitive Machines in the first quarter valued at about $139,000. Creative Planning boosted its position in Intuitive Machines by 29.3% in the second quarter. Creative Planning now owns 30,407 shares of the company’s stock worth $331,000 after purchasing an additional 6,886 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock worth $205,000 after purchasing an additional 2,506 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other 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.