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

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LUNR. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday. B. Riley assumed coverage on shares of Intuitive Machines in a research note on Friday, June 28th. They set a “buy” rating and a $8.00 price target on the stock. Roth Mkm reiterated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $9.80.

Intuitive Machines Stock Up 46.7 %

The stock has a market cap of $987.09 million, a price-to-earnings ratio of 19.83 and a beta of 0.26. The stock’s 50 day moving average price is $4.54 and its two-hundred day moving average price is $4.86.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data 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 company had revenue of $41.41 million for the quarter, compared to analysts’ expectations of $43.00 million. On average, analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the transaction, the director now owns 3,551,606 shares in the company, valued at $21,593,764.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Timothy Price Crain II sold 197,637 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.05, for a total value of $1,195,703.85. Following the completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at $2,195,000.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director now owns 3,551,606 shares in the company, valued at $21,593,764.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,827,154 shares of company stock valued at $9,893,973. Corporate insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sender Co & Partners Inc. purchased a new position in Intuitive Machines during the second quarter worth approximately $56,000. Squarepoint Ops LLC acquired a new position in shares of Intuitive Machines during the 2nd quarter valued at about $536,000. XTX Topco Ltd purchased a new stake in shares of Intuitive Machines in the second quarter valued at about $164,000. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines in the 2nd quarter valued at approximately $35,000. Finally, Rhumbline Advisers acquired a new position in Intuitive Machines in the second quarter valued at approximately $119,000. 72.21% of the stock is currently 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.