Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $10.85, but opened at $11.84. Intuitive Machines shares last traded at $13.52, with a volume of 6,776,343 shares trading hands.

Analyst Ratings Changes

LUNR has been the subject of a number of recent analyst reports. KeyCorp initiated coverage on Intuitive Machines in a report on Thursday. They set an “overweight” rating and a $20.00 price target for the company. Canaccord Genuity Group decreased their target price on Intuitive Machines from $18.50 to $15.50 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Intuitive Machines and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.91.

Intuitive Machines Stock Performance

The stock has a market cap of $2.54 billion, a PE ratio of -5.70 and a beta of 1.44. The firm’s 50-day moving average is $10.80 and its 200 day moving average is $10.54.

Insider Transactions at Intuitive Machines

In related news, Director Michael Blitzer acquired 141,080 shares of Intuitive Machines stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $9.27 per share, with a total value of $1,307,811.60. Following the purchase, the director directly owned 1,831,248 shares in the company, valued at approximately $16,975,668.96. The trade was a 8.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 39.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP raised its position in Intuitive Machines by 3,582.9% during the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after buying an additional 2,386,688 shares during the last quarter. Gotham Asset Management LLC acquired a new position in shares of Intuitive Machines during the first quarter worth about $15,739,000. Voya Investment Management LLC purchased a new position in Intuitive Machines during the first quarter worth about $11,311,000. Jump Financial LLC lifted its position in Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock valued at $14,095,000 after purchasing an additional 1,314,888 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Intuitive Machines by 78.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,593,135 shares of the company’s stock valued at $28,191,000 after purchasing an additional 1,141,454 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.