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

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) saw strong trading volume on Tuesday . 13,460,023 shares traded hands during trading, an increase of 41% from the previous session’s volume of 9,557,653 shares.The stock last traded at $13.15 and had previously closed at $11.68.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LUNR shares. Cantor Fitzgerald increased their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Benchmark raised their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. B. Riley raised their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group lifted their price target on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Price Performance

The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -4.11 and a beta of 0.35. The firm’s fifty day moving average is $8.41 and its 200-day moving average is $5.85.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the sale, the chief financial officer now directly owns 117,500 shares in the company, valued at approximately $655,650. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy Price Crain II sold 197,637 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.05, for a total transaction of $1,195,703.85. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at $2,195,000.50. This represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,763,571 shares of company stock valued at $38,671,383. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Large investors have recently made changes to their positions in the company. Barclays PLC increased its stake in Intuitive Machines by 275.2% during the 3rd quarter. Barclays PLC now owns 37,323 shares of the company’s stock valued at $300,000 after purchasing an additional 27,376 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares during the last quarter. Savoie Capital LLC bought a new stake in shares of Intuitive Machines during the third quarter worth about $112,000. State Street Corp increased its position in shares of Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after acquiring an additional 7,538 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Intuitive Machines in the 3rd quarter worth about $525,000. 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.