Intuitive Machines (NASDAQ:LUNR) Sees Large Volume Increase – Here’s What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually-high trading volume on Tuesday . Approximately 13,460,023 shares changed hands during trading, an increase of 41% from the previous session’s volume of 9,557,653 shares.The stock last traded at $13.15 and had previously closed at $11.68.

Analyst Ratings Changes

LUNR has been the subject of a number of analyst reports. Cantor Fitzgerald increased their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Canaccord Genuity Group increased their target price on shares of Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark boosted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. B. Riley upped their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines currently has an average rating of “Buy” and an average target price of $13.10.

Intuitive Machines Stock Down 3.9 %

The company’s 50-day moving average is $8.41 and its two-hundred day moving average is $5.85. The company has a market cap of $1.55 billion, a P/E ratio of -4.11 and a beta of 0.35.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $4,390,001. This represents a 52.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 570,705 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the transaction, the director now owns 3,551,606 shares of the company’s stock, valued at $21,593,764.48. The trade was a 13.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,763,571 shares of company stock worth $38,671,383 over the last three months. 73.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of the business. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines during the 2nd quarter valued at $35,000. Sender Co & Partners Inc. bought a new stake in shares of Intuitive Machines during the second quarter valued at about $56,000. Waldron Private Wealth LLC bought a new stake in shares of Intuitive Machines during the third quarter valued at about $83,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines in the third quarter worth about $85,000. Finally, SG Americas Securities LLC bought a new position in shares of Intuitive Machines in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.