Intuitive Machines (NASDAQ:LUNR) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually-strong trading volume on Wednesday . Approximately 6,762,584 shares were traded during trading, a decline of 24% from the previous session’s volume of 8,949,367 shares.The stock last traded at $11.26 and had previously closed at $10.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LUNR shares. Roth Mkm restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. B. Riley raised their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Benchmark restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Monday, September 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.60.

Intuitive Machines Trading Up 19.6 %

The business’s fifty day simple moving average is $7.64 and its 200-day simple moving average is $5.58.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share 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 analysts’ expectations of $43.00 million. As a group, equities research analysts anticipate that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 570,705 shares of Intuitive Machines stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the completion of the sale, the director now directly owns 3,551,606 shares in the company, valued at approximately $21,593,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the sale, the director now owns 3,551,606 shares in the company, valued at approximately $21,593,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 250,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $9.01, for a total value of $2,252,500.00. Following the sale, the chief executive officer now owns 910,919 shares in the company, valued at $8,207,380.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,289,148 shares of company stock worth $32,122,346 over the last three months. 73.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LUNR. Squarepoint Ops LLC purchased a new stake in shares of Intuitive Machines during the second quarter worth approximately $536,000. Vanguard Group Inc. grew its holdings in Intuitive Machines by 250.0% in the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after buying an additional 429,531 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in Intuitive Machines in the 2nd quarter valued at $35,000. XTX Topco Ltd purchased a new position in shares of Intuitive Machines during the 2nd quarter worth $164,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Intuitive Machines during the 2nd quarter worth about $272,000. 72.21% of the stock is owned by institutional investors and hedge funds.

About Intuitive Machines

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.