Intuitive Machines (NASDAQ:LUNR) Trading Up 11.7% – Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were up 11.7% during trading on Tuesday . The company traded as high as $18.52 and last traded at $18.2570. Approximately 5,561,390 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 11,510,646 shares. The stock had previously closed at $16.35.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LUNR shares. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $16.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Roth Mkm restated a “buy” rating on shares of Intuitive Machines in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, January 22nd. KeyCorp upped their price target on shares of Intuitive Machines from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Finally, Stifel Nicolaus increased their price target on Intuitive Machines from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, March 23rd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.94.

Intuitive Machines Stock Performance

The business’s fifty day moving average is $18.25 and its 200-day moving average is $14.46. The firm has a market cap of $3.95 billion, a P/E ratio of -24.71 and a beta of 1.40.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $44.79 million during the quarter, compared to analyst estimates of $53.37 million. Analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven Vontur sold 4,343 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $17.44, for a total value of $75,741.92. Following the completion of the sale, the insider directly owned 117,047 shares in the company, valued at $2,041,299.68. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Peter Mcgrath sold 25,541 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $17.44, for a total value of $445,435.04. Following the transaction, the chief financial officer directly owned 425,800 shares of the company’s stock, valued at approximately $7,425,952. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,773,731 shares of company stock valued at $33,353,852 over the last quarter. 39.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently made changes to their positions in LUNR. Vanguard Group Inc. lifted its stake in shares of Intuitive Machines by 13.3% in the third quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after acquiring an additional 717,256 shares during the period. Trustees of the University of Pennsylvania acquired a new stake in Intuitive Machines during the 4th quarter valued at approximately $52,689,000. UBS Group AG raised its holdings in Intuitive Machines by 22.0% during the 4th quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock worth $50,238,000 after purchasing an additional 557,517 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intuitive Machines by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after purchasing an additional 61,084 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Intuitive Machines by 18.4% in the 3rd quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock worth $28,165,000 after purchasing an additional 415,359 shares during the period. 72.21% of the stock is currently owned by institutional investors.

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.