Intuitive Machines (NASDAQ:LUNR) Reaches New 12-Month High – What’s Next?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) hit a new 52-week high during trading on Wednesday . The company traded as high as $22.98 and last traded at $22.94, with a volume of 28545846 shares traded. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LUNR shares. Canaccord Genuity Group upped their target price 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 increased their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Benchmark upped their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Price Performance

The stock’s 50 day simple moving average is $15.74 and its two-hundred day simple moving average is $9.51. The stock has a market cap of $3.11 billion, a P/E ratio of -7.54 and a beta of 0.90.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at $4,390,001. This trade represents a 52.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were 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 approximately $27,713,510.24. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,609,820 shares of company stock valued at $21,709,343. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Intuitive Machines during the 2nd quarter worth about $536,000. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines during the 2nd quarter worth about $272,000. Stifel Financial Corp acquired a new position in shares of Intuitive Machines during the 3rd quarter worth about $525,000. Finally, FORA Capital LLC bought a new position in shares of Intuitive Machines in the 3rd quarter valued at about $458,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.