Intuitive Machines (NASDAQ:LUNR) Trading 8.7% Higher – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price rose 8.7% during trading on Thursday . The company traded as high as $22.97 and last traded at $22.68. Approximately 11,630,693 shares traded hands during trading, a decline of 21% from the average daily volume of 14,751,671 shares. The stock had previously closed at $20.87.

Analyst Upgrades and Downgrades

LUNR has been the subject of several analyst reports. Canaccord Genuity Group increased their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald raised their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Price Performance

The stock’s 50 day moving average is $17.04 and its 200-day moving average is $10.34. The company has a market capitalization of $3.04 billion, a P/E ratio of -7.37 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 138,568 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,111,200.90. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $7.93, for a total value of $1,409,430.62. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at $27,713,510.24. The trade was a 4.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,609,820 shares of company stock valued at $21,709,343. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently modified their holdings of LUNR. AlphaCentric Advisors LLC boosted its stake in Intuitive Machines by 66.7% during the 4th quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $454,000 after purchasing an additional 10,000 shares during the last quarter. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Intuitive Machines during the 4th quarter valued at about $244,000. Rhumbline Advisers raised its position in Intuitive Machines by 15.1% in the fourth quarter. Rhumbline Advisers now owns 43,648 shares of the company’s stock worth $793,000 after acquiring an additional 5,735 shares during the period. Van ECK Associates Corp purchased a new position in Intuitive Machines during the fourth quarter valued at $3,403,000. Finally, Entropy Technologies LP purchased a new position in shares of Intuitive Machines during the 4th quarter valued at about $895,000. 72.21% of the stock is currently owned by institutional investors.

Intuitive Machines Company Profile

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.