Intuitive Machines (NASDAQ:LUNR) Stock Price Up 0.4% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares rose 0.4% on Thursday . The company traded as high as $7.34 and last traded at $7.29. Approximately 2,435,293 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 11,580,730 shares. The stock had previously closed at $7.26.

Analyst Upgrades and Downgrades

LUNR has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target on the stock. Canaccord Genuity Group cut their price objective on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Roth Mkm lowered their price target on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Bank of America began coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price on the stock. Finally, Roth Capital set a $20.00 target price on shares of Intuitive Machines in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Intuitive Machines has an average rating of “Moderate Buy” and an average target price of $16.38.

Intuitive Machines Stock Performance

The firm’s fifty day moving average is $16.22 and its 200 day moving average is $12.80. The company has a market capitalization of $995.06 million, a P/E ratio of -2.41 and a beta of 1.01.

Insider Activity

In other news, insider Steven Vontur sold 9,266 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares of the company’s stock, valued at approximately $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 392,713 shares of company stock worth $7,250,066. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Intuitive Machines by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock valued at $73,503,000 after purchasing an additional 1,017,706 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Intuitive Machines during the fourth quarter valued at $33,255,000. Renaissance Technologies LLC increased its position in shares of Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock valued at $22,170,000 after acquiring an additional 609,118 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Intuitive Machines by 3,991.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock worth $21,102,000 after acquiring an additional 1,133,581 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Intuitive Machines by 20.5% during the 4th quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock worth $20,437,000 after acquiring an additional 191,733 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

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.