Intuitive Machines (NASDAQ:LUNR) Trading 7% Higher – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares rose 7% on Monday . The company traded as high as $20.65 and last traded at $20.34. Approximately 7,060,801 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 12,893,334 shares. The stock had previously closed at $19.01.

Wall Street Analyst Weigh In

LUNR has been the subject of a number of analyst reports. 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. Stifel Nicolaus upgraded Intuitive Machines from a “hold” rating to a “buy” rating and cut their price target for the company from $32.00 to $26.00 in a research note on Friday. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Canaccord Genuity Group upped their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.31.

Intuitive Machines Price Performance

The firm’s 50 day simple moving average is $18.17 and its 200-day simple moving average is $21.92. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -21.59 and a beta of 1.83.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. On average, analysts forecast that Intuitive Machines, Inc. will post -0.35 EPS for the current year.

Insider Transactions at Intuitive Machines

In other news, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the completion of the sale, the insider directly owned 11,495,514 shares of the company’s stock, valued at approximately $147,602,399.76. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 267,448 shares of Intuitive Machines stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at $56,510,398.56. The trade was a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,404,313 shares of company stock worth $168,526,592 in the last three months. Corporate insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its position in Intuitive Machines by 19.7% in the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after acquiring an additional 2,643 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Intuitive Machines by 43.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after purchasing an additional 7,528 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Intuitive Machines in the first quarter valued at approximately $139,000. Creative Planning raised its stake in shares of Intuitive Machines by 29.3% during the second quarter. Creative Planning now owns 30,407 shares of the company’s stock worth $331,000 after purchasing an additional 6,886 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Intuitive Machines by 15.3% during the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock worth $205,000 after purchasing an additional 2,506 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.