Intuitive Machines (NASDAQ:LUNR) Stock Price Up 12.9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) was up 12.9% during mid-day trading on Monday . The company traded as high as $15.76 and last traded at $15.72. Approximately 11,484,719 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 12,190,417 shares. The stock had previously closed at $13.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. B. Riley Financial reduced their price target on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Canaccord Genuity Group lowered their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Finally, Roth Capital set a $30.00 target price on Intuitive Machines in a research report on Thursday, August 13th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Intuitive Machines Stock Performance

The stock has a market capitalization of $3.60 billion, a P/E ratio of -16.55 and a beta of 1.85. The firm’s fifty day simple moving average is $15.11 and its 200 day simple moving average is $21.55.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. Analysts anticipate that Intuitive Machines, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, major shareholder International L.P. Advent sold 11,495,514 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the sale, the insider owned 11,495,514 shares of the company’s stock, valued at approximately $147,602,399.76. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kamal Ghaffarian sold 267,448 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the transaction, the director owned 3,494,768 shares of the company’s stock, valued at $56,510,398.56. This trade represents a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 12,193,437 shares of company stock valued at $159,377,936. 54.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of LUNR. Nykredit A S bought a new position in Intuitive Machines in the second quarter valued at about $25,000. State of Wyoming bought a new stake in shares of Intuitive Machines during the first quarter worth about $39,000. Larson Financial Group LLC grew its holdings in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after buying an additional 712 shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of Intuitive Machines in the first quarter valued at approximately $59,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.