Intuitive Machines (NASDAQ:LUNR) Stock Price Up 9.2% – Should You Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) rose 9.2% during mid-day trading on Friday . The stock traded as high as $11.72 and last traded at $11.88. Approximately 3,958,395 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 12,676,257 shares. The stock had previously closed at $10.88.

Analyst Ratings Changes

LUNR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective on the stock. Barclays assumed coverage on Intuitive Machines in a report on Thursday, May 22nd. They issued a “neutral” rating for the company. Roth Mkm dropped their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Canaccord Genuity Group boosted their price objective on Intuitive Machines from $21.00 to $21.50 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Finally, Benchmark reissued a “buy” rating and set a $16.00 target price on shares of Intuitive Machines in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.06.

Intuitive Machines Price Performance

The business’s 50-day moving average is $9.46 and its two-hundred day moving average is $13.31. The firm has a market cap of $2.09 billion, a P/E ratio of -3.98 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The firm had revenue of $62.52 million during the quarter, compared to the consensus estimate of $66.07 million. Equities research analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Peter Mcgrath sold 37,906 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $7.71, for a total transaction of $292,255.26. Following the completion of the transaction, the chief financial officer now directly owns 438,992 shares in the company, valued at approximately $3,384,628.32. The trade was a 7.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total value of $1,948,293.60. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $42,286,692.80. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,090 shares of company stock valued at $3,106,565 in the last 90 days. 73.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP bought a new position in shares of Intuitive Machines in the fourth quarter valued at about $895,000. Van ECK Associates Corp bought a new position in Intuitive Machines in the 4th quarter valued at about $3,403,000. Rhumbline Advisers lifted its position in Intuitive Machines by 15.1% during 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 last quarter. Nations Financial Group Inc. IA ADV acquired a new stake in Intuitive Machines during the fourth quarter worth approximately $244,000. Finally, AlphaCentric Advisors LLC boosted its holdings in shares of Intuitive Machines by 66.7% during the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock worth $454,000 after acquiring an additional 10,000 shares during the period. 72.21% of the stock is owned by 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.