Traders Buy Large Volume of Call Options on Intuitive Machines (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR) was the recipient of unusually large options trading on Thursday. Investors acquired 79,143 call options on the company. This is an increase of approximately 38% compared to the average volume of 57,328 call options.

Intuitive Machines Stock Performance

NASDAQ LUNR traded up $2.18 during trading hours on Thursday, hitting $18.83. 22,000,718 shares of the company’s stock were exchanged, compared to its average volume of 10,461,069. The business’s 50 day moving average is $11.51 and its 200-day moving average is $7.34. Intuitive Machines has a 12-month low of $2.09 and a 12-month high of $19.29. The firm has a market capitalization of $2.64 billion, a P/E ratio of -6.40 and a beta of 0.91.

Analyst Ratings Changes

LUNR has been the subject of a number of recent research reports. Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Roth Mkm reissued a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group cut their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research note on Friday, December 6th. Finally, Benchmark raised their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $14.10.

Insider Buying and Selling

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction 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. This trade represents a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,701,785 shares of company stock valued at $18,458,666 over the last quarter. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of LUNR. Geode Capital Management LLC lifted its stake 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 valued at $7,514,000 after purchasing an additional 222,136 shares in the last quarter. State Street Corp lifted its position in Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after buying an additional 7,538 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Intuitive Machines during the second quarter worth approximately $536,000. Penserra Capital Management LLC raised its stake 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 valued at $1,190,000 after acquiring an additional 20,916 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Intuitive Machines by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after acquiring an additional 32,015 shares in the last quarter. 72.21% of the stock is 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.