Intuitive Machines (NASDAQ:LUNR) Trading Up 8.7% – Still a Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 8.7% on Thursday . The company traded as high as $22.97 and last traded at $22.68. 11,630,693 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 14,751,671 shares. The stock had previously closed at $20.87.

Wall Street Analysts Forecast Growth

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

Intuitive Machines Stock Up 7.4 %

The firm’s fifty day simple moving average is $16.74 and its two-hundred day simple moving average is $10.13. The firm has a market cap of $3.15 billion, a PE ratio of -7.63 and a beta of 0.90.

Insider Buying and Selling

In other Intuitive Machines news, CEO Stephen J. Altemus sold 138,568 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the completion of the transaction, the chief executive officer now owns 910,919 shares in the company, valued at $10,111,200.90. This trade represents a 13.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $7.93, for a total value of $1,409,430.62. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at $27,713,510.24. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,609,820 shares of company stock valued at $21,709,343. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new position in shares of Intuitive Machines in the 2nd quarter worth approximately $536,000. SG Americas Securities LLC purchased a new position in Intuitive Machines during the third quarter worth $93,000. Creative Planning bought a new position in Intuitive Machines during the third quarter valued at $105,000. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines in the third quarter valued at $83,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Intuitive Machines in the 3rd quarter worth about $189,000. Hedge funds and other institutional investors 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.