Intuitive Machines (NASDAQ:LUNR) Trading 13.3% Higher – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded up 13.3% during trading on Thursday . The company traded as high as $46.75 and last traded at $45.70. 23,589,378 shares were traded during trading, an increase of 75% from the average session volume of 13,493,616 shares. The stock had previously closed at $40.34.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. B. Riley Financial upped their price target on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Roth Mkm upped their price target on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Canaccord Genuity Group upped their price target on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, KeyCorp increased their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of -49.81 and a beta of 1.47. The firm has a 50 day moving average price of $27.32 and a 200-day moving average price of $19.67.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. Equities research analysts predict that Intuitive Machines, Inc. will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Machines news, CFO Peter Mcgrath sold 24,554 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $579,719.94. Following the sale, the chief financial officer directly owned 401,246 shares in the company, valued at $9,473,418.06. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $34.25, for a total value of $4,860,383.25. Following the completion of the sale, the director owned 3,494,768 shares in the company, valued at approximately $119,695,804. This represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,048,206 shares of company stock valued at $24,782,839 in the last three months. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in Intuitive Machines in the fourth quarter valued at $28,000. State of Wyoming purchased a new position in shares of Intuitive Machines during the first quarter worth about $39,000. GAMMA Investing LLC grew its holdings in shares of Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after purchasing an additional 2,337 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.