Intuitive Machines (NASDAQ:LUNR) Sees Strong Trading Volume – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) shares saw unusually-strong trading volume on Wednesday . Approximately 6,762,584 shares were traded during mid-day 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.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LUNR shares. B. Riley lifted their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Monday, September 30th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, Benchmark reaffirmed a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.60.

Intuitive Machines Price Performance

The firm has a 50 day moving average price of $7.64 and a 200-day moving average price of $5.58.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. As a group, sell-side analysts expect that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 74,248 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $8.03, for a total transaction of $596,211.44. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at $28,062,987.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intuitive Machines news, CEO Stephen J. Altemus sold 440,288 shares of Intuitive Machines stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $5,492,841.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 74,248 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $8.03, for a total value of $596,211.44. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $28,062,987.04. This trade represents 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 90 days. 73.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUNR. Waldron Private Wealth LLC acquired a new position in shares of Intuitive Machines in the third quarter valued at approximately $83,000. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines in the second quarter valued at approximately $35,000. The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines during the third quarter worth $85,000. SG Americas Securities LLC acquired a new position in Intuitive Machines during the third quarter worth $93,000. Finally, Creative Planning acquired a new position in Intuitive Machines during the third quarter worth $105,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.