Intuitive Machines (NASDAQ:LUNR) Trading Up 6%

Intuitive Machines, Inc. (NASDAQ:LUNR) shares shot up 6% during mid-day trading on Wednesday . The company traded as high as $5.59 and last traded at $5.51. 4,600,397 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 6,529,848 shares. The stock had previously closed at $5.20.

Analyst Ratings Changes

LUNR has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, August 14th. Canaccord Genuity Group lowered their price target on Intuitive Machines from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Roth Mkm lifted their price objective on Intuitive Machines from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, August 30th. B. Riley initiated coverage on Intuitive Machines in a report on Friday, June 28th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $9.80.

Intuitive Machines Trading Down 2.5 %

The company has a market capitalization of $619.42 million, a PE ratio of 12.12 and a beta of 0.26. The company’s 50 day moving average price is $4.22 and its 200-day moving average price is $5.01.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. As a group, analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

Insider Activity

In other news, SVP Timothy Price Crain II sold 50,000 shares of Intuitive Machines stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.36, for a total value of $168,000.00. Following the completion of the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $1,219,041.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Timothy Price Crain II sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.36, for a total value of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $1,219,041.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Altemus sold 203,018 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total value of $919,671.54. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at $4,126,463.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 608,250 shares of company stock worth $2,516,117. 73.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sender Co & Partners Inc. acquired a new stake in shares of Intuitive Machines in the second quarter worth $56,000. Squarepoint Ops LLC purchased a new stake in Intuitive Machines in the 2nd quarter worth approximately $536,000. XTX Topco Ltd bought a new stake in shares of Intuitive Machines in the 2nd quarter valued at approximately $164,000. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the second quarter worth about $35,000. Finally, Rhumbline Advisers bought a new stake in shares of Intuitive Machines during the 2nd quarter worth about $119,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.