Intuitive Machines (NASDAQ:LUNR) Hits New 52-Week High – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) hit a new 52-week high on Monday . The company traded as high as $38.55 and last traded at $34.7760, with a volume of 3221484 shares changing hands. The stock had previously closed at $33.89.

Analysts Set New Price Targets

A number of brokerages have weighed in on LUNR. Wall Street Zen downgraded shares of Intuitive Machines from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday. Roth Mkm raised their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Stifel Nicolaus set a $32.00 target price on shares of Intuitive Machines in a report on Friday. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Hold” and an average target price of $28.45.

Intuitive Machines Trading Down 3.4%

The company’s 50 day moving average price is $24.02 and its two-hundred day moving average price is $18.15. The firm has a market cap of $7.04 billion, a PE ratio of -36.89 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. Equities research analysts expect that Intuitive Machines, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 13,751 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $324,661.11. Following the sale, the chief executive officer directly owned 1,162,495 shares in the company, valued at $27,446,506.95. This trade represents a 1.17% decrease in their position. The sale was disclosed in a document filed 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, CFO Peter Mcgrath sold 24,554 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $579,719.94. Following the sale, the chief financial officer owned 401,246 shares in the company, valued at $9,473,418.06. The trade was a 5.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 906,297 shares of company stock worth $19,922,455. 54.10% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after purchasing an additional 712 shares during the period. GAMMA Investing LLC raised its position in shares of Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares during the period. Sigma Planning Corp raised its position in shares of Intuitive Machines by 8.8% during the 4th quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock valued at $178,000 after purchasing an additional 886 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock valued at $206,000 after purchasing an additional 1,000 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after purchasing an additional 1,016 shares during the period. 72.21% of the stock is currently owned by 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.