Intuitive Machines (NASDAQ:LUNR) Stock Price Up 6.6% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was up 6.6% during mid-day trading on Thursday . The company traded as high as $15.18 and last traded at $14.79. 8,246,758 shares changed hands during trading, a decline of 32% from the average session volume of 12,183,311 shares. The stock had previously closed at $13.87.

Analysts Set New Price Targets

LUNR has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. B. Riley Financial dropped their price target on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Bank of America increased their price target on shares of Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Finally, Wall Street Zen upgraded shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Intuitive Machines has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Intuitive Machines Trading Up 6.6%

The business has a 50 day moving average of $15.20 and a two-hundred day moving average of $21.59. The firm has a market cap of $3.39 billion, a P/E ratio of -15.57 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to analysts’ expectations of $212.32 million. On average, sell-side analysts predict that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Insider Transactions at Intuitive Machines

In related news, insider Steven Vontur sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at approximately $1,838,771.61. This represents a 2.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the completion of the transaction, the insider directly owned 11,495,514 shares in the company, valued at approximately $147,602,399.76. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,193,437 shares of company stock worth $159,377,936. 54.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently made changes to their positions in the company. Calamos Advisors LLC bought a new stake in Intuitive Machines in the 1st quarter valued at $2,984,000. Jefferies Financial Group Inc. bought a new position in Intuitive Machines during the 4th quarter worth $717,000. Fifth Third Bancorp acquired a new stake in shares of Intuitive Machines during the first quarter worth $4,314,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Intuitive Machines by 202.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock worth $8,567,000 after buying an additional 308,755 shares in the last quarter. Finally, Trustees of the University of Pennsylvania bought a new stake in shares of Intuitive Machines in the fourth quarter valued at about $52,689,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.