Intuitive Machines (NASDAQ:LUNR) Sets New 1-Year High – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $20.79 and last traded at $20.42, with a volume of 6729337 shares traded. The stock had previously closed at $18.16.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a research report on Friday, December 6th. Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. B. Riley raised their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Benchmark boosted their target price on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Roth Mkm reiterated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines has a consensus rating of “Buy” and an average price target of $14.10.

Intuitive Machines Stock Performance

The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -7.45 and a beta of 0.93. The business has a fifty day simple moving average of $13.04 and a 200-day simple moving average of $8.05.

Insiders Place Their Bets

In related news, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,080,704 shares of company stock worth $25,411,498. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently made changes to their positions in the business. Waldron Private Wealth LLC bought a new stake in Intuitive Machines during the third quarter worth about $83,000. Wedbush Securities Inc. purchased a new stake in Intuitive Machines during the second quarter valued at about $35,000. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines during the third quarter valued at about $85,000. SG Americas Securities LLC purchased a new position in shares of Intuitive Machines in the third quarter worth about $93,000. Finally, Creative Planning bought a new position in Intuitive Machines during the 3rd quarter worth approximately $105,000. 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.