Intuitive Machines (NASDAQ:LUNR) Stock Price Up 1.3% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price rose 1.3% during trading on Monday . The stock traded as high as $30.80 and last traded at $29.74. Approximately 9,026,661 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 13,532,191 shares. The stock had previously closed at $29.36.

Analyst Ratings Changes

LUNR has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Tuesday, April 21st. Roth Mkm boosted their price objective on Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. KeyCorp boosted their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group boosted their price objective on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Price Performance

The company has a market capitalization of $6.45 billion, a PE ratio of -33.80 and a beta of 1.68. The business has a 50-day moving average of $28.90 and a 200 day moving average of $20.64.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. As a group, research analysts anticipate that Intuitive Machines, Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling

In other Intuitive Machines news, CEO Stephen J. Altemus sold 13,751 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $324,661.11. Following the sale, the chief executive officer directly owned 1,162,495 shares of the company’s stock, valued at $27,446,506.95. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Peter Mcgrath sold 24,554 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $579,719.94. Following the sale, the chief financial officer directly owned 401,246 shares in the company, valued at $9,473,418.06. The trade was a 5.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 1,190,115 shares of company stock valued at $30,320,128. Insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in Intuitive Machines during the fourth quarter worth approximately $28,000. State of Wyoming bought a new stake in Intuitive Machines during the first quarter worth approximately $39,000. Larson Financial Group LLC increased its stake in 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 acquiring an additional 1,016 shares during the last quarter. GAMMA Investing LLC increased its stake in Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after acquiring an additional 781 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Intuitive Machines by 34.2% during 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 last quarter. 72.21% of the stock is 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.