Intuitive Machines (NASDAQ:LUNR) Trading Up 8.7% – What’s Next?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 8.7% during trading on Thursday . The stock traded as high as $22.97 and last traded at $22.68. 11,630,693 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 14,751,671 shares. The stock had previously closed at $20.87.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LUNR. Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald boosted their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group boosted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Stock Performance

The company has a market cap of $3.15 billion, a price-to-earnings ratio of -7.63 and a beta of 0.90. The company has a fifty day moving average of $16.74 and a two-hundred day moving average of $10.13.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 362,810 shares in the company, valued at $4,390,001. The trade was a 52.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,609,820 shares of company stock worth $21,709,343 over the last three months. 73.68% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after acquiring an additional 222,136 shares during the last quarter. State Street Corp lifted its stake in Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after acquiring an additional 7,538 shares during the period. Van ECK Associates Corp purchased a new position in shares of Intuitive Machines during the fourth quarter valued at about $3,403,000. Squarepoint Ops LLC bought a new position in shares of Intuitive Machines in the 2nd quarter worth approximately $536,000. Finally, Penserra Capital Management LLC grew its position in shares of Intuitive Machines by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after buying an additional 20,916 shares during the period. 72.21% of the stock is owned by institutional investors.

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.