Intuitive Machines (NASDAQ:LUNR) Sees Strong Trading Volume Following Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually-strong trading volume on Thursday 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. Approximately 9,299,727 shares traded hands during trading, an increase of 23% from the previous session’s volume of 7,570,203 shares.The stock last traded at $7.58 and had previously closed at $7.47.

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

Insider Buying and Selling

In other Intuitive Machines news, Director Michael Blitzer sold 662,673 shares of Intuitive Machines stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $8.19, for a total transaction of $5,427,291.87. Following the transaction, the director now owns 1,062,865 shares of the company’s stock, valued at $8,704,864.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intuitive Machines news, Director Michael Blitzer sold 662,673 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $8.19, for a total value of $5,427,291.87. Following the completion of the sale, the director now owns 1,062,865 shares in the company, valued at approximately $8,704,864.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy Price Crain II sold 50,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.36, for a total value of $168,000.00. Following the completion of the transaction, the senior vice president now owns 362,810 shares in the company, valued at $1,219,041.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,039,827 shares of company stock valued at $20,042,765. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. purchased a new position in Intuitive Machines during the 2nd quarter valued at approximately $35,000. Sender Co & Partners Inc. purchased a new stake in Intuitive Machines during the second quarter valued at $56,000. Baltimore Washington Financial Advisors Inc. bought a new position in Intuitive Machines during the first quarter valued at $67,000. Rhumbline Advisers purchased a new position in shares of Intuitive Machines in the 2nd quarter worth $119,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of Intuitive Machines in the 1st quarter worth about $119,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Trading Down 1.4 %

The firm’s 50-day moving average price is $4.81 and its 200-day moving average price is $4.93. The stock has a market capitalization of $1.14 billion, a PE ratio of 22.32 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. On average, equities research analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share 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.