Intuitive Machines (NASDAQ:LUNR) Trading 5.5% Higher on Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was up 5.5% during trading on Friday after B. Riley raised their price target on the stock from $8.00 to $12.00. B. Riley currently has a buy rating on the stock. Intuitive Machines traded as high as $9.85 and last traded at $9.79. Approximately 22,063,604 shares traded hands during mid-day trading, an increase of 172% from the average daily volume of 8,109,871 shares. The stock had previously closed at $9.28.

A number of other research firms have also issued reports on LUNR. Roth Mkm restated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines currently has an average rating of “Buy” and an average price target of $10.60.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 50,000 shares of Intuitive Machines stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $3.36, for a total transaction of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at $1,219,041.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Timothy Price Crain II sold 50,000 shares of Intuitive Machines stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $3.36, for a total transaction of $168,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $1,219,041.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 203,018 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total value of $919,671.54. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $4,126,463.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,827,154 shares of company stock worth $9,893,973. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Intuitive Machines during the 2nd quarter valued at approximately $536,000. Bank of New York Mellon Corp bought a new position in Intuitive Machines during the 2nd quarter worth $272,000. Sanders Morris Harris LLC increased its position in Intuitive Machines by 264.9% in the second quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after buying an additional 50,600 shares during the period. Finally, XTX Topco Ltd bought a new stake in Intuitive Machines in the second quarter valued at $164,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Stock Up 5.5 %

The company has a market capitalization of $1.22 billion, a P/E ratio of 23.88 and a beta of 0.26. The business has a 50 day simple moving average of $4.71 and a 200-day simple moving average of $4.91.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. Equities analysts forecast that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

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.