Intuitive Machines Target of Unusually High Options Trading (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR) was the recipient of some unusual options trading activity on Thursday. Traders purchased 79,143 call options on the stock. This represents an increase of 38% compared to the average daily volume of 57,328 call options.

Insider Activity at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 138,568 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,111,200.90. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at $52,561,310.72. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,701,785 shares of company stock worth $18,458,666 in the last three months. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. Bank of New York Mellon Corp acquired a new stake in Intuitive Machines during the 2nd quarter worth $272,000. Rhumbline Advisers acquired a new position in Intuitive Machines in the second quarter valued at $119,000. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines in the second quarter valued at about $35,000. XTX Topco Ltd acquired a new stake in shares of Intuitive Machines during the second quarter worth about $164,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Intuitive Machines during the second quarter worth about $536,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LUNR. Cantor Fitzgerald boosted their price target 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 target 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. Roth Mkm reiterated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Canaccord Genuity Group dropped their price target on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research report on Friday, December 6th. Finally, Benchmark lifted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five equities 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 target price of $14.10.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR traded up $2.18 during mid-day trading on Thursday, reaching $18.83. 22,000,718 shares of the company’s stock were exchanged, compared to its average volume of 10,461,069. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -6.40 and a beta of 0.91. Intuitive Machines has a 52-week low of $2.09 and a 52-week high of $19.29. The company’s 50-day moving average is $11.51 and its 200-day moving average is $7.34.

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.