Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares gapped up prior to trading on Tuesday . The stock had previously closed at $21.14, but opened at $22.38. Intuitive Machines shares last traded at $21.67, with a volume of 2,588,049 shares trading hands.

Analyst Ratings Changes

Several equities analysts have issued reports on LUNR shares. Canaccord Genuity Group lifted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald upped their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines presently has an average rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Price Performance

The firm has a 50 day simple moving average of $16.38 and a two-hundred day simple moving average of $9.93. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -7.18 and a beta of 0.90.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, CEO Stephen J. Altemus sold 138,568 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $11.10, for a total value of $1,538,104.80. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,111,200.90. This represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated 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 owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,609,820 shares of company stock valued at $21,709,343. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently modified their holdings of the business. Waldron Private Wealth LLC bought a new stake in shares of Intuitive Machines in the third quarter worth about $83,000. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines during the third quarter worth about $85,000. SG Americas Securities LLC bought a new position in shares of Intuitive Machines during the third quarter worth about $93,000. Creative Planning bought a new position in shares of Intuitive Machines during the third quarter worth about $105,000. Finally, LMR Partners LLP bought a new position in shares of Intuitive Machines during the third quarter worth about $110,000. 72.21% of the stock is currently owned by institutional investors.

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.