Intuitive Machines (NASDAQ:LUNR) Shares Gap Up to $5.40

Intuitive Machines, Inc. (NASDAQ:LUNR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.40, but opened at $8.38. Intuitive Machines shares last traded at $8.17, with a volume of 40,670,891 shares traded.

Analysts Set New Price Targets

LUNR has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday. Roth Mkm reiterated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday. B. Riley started coverage on Intuitive Machines in a research note on Friday, June 28th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.80.

Intuitive Machines Trading Up 46.7 %

The stock has a market cap of $987.09 million, a PE ratio of 19.83 and a beta of 0.26. The business has a 50 day moving average of $4.54 and a 200-day moving average of $4.86.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to analyst estimates of $43.00 million. Research analysts expect that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.36, for a total transaction of $168,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $1,219,041.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Steven Vontur sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the sale, the chief financial officer now owns 117,500 shares in the company, valued at $655,650. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.36, for a total value of $168,000.00. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $1,219,041.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,827,154 shares of company stock worth $9,893,973. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in LUNR. Vanguard Group Inc. boosted its stake in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $536,000. Bank of New York Mellon Corp purchased a new stake in Intuitive Machines in the 2nd quarter valued at approximately $272,000. Sanders Morris Harris LLC grew its holdings in Intuitive Machines by 264.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after buying an additional 50,600 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Intuitive Machines in the second quarter worth $164,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.