Intuitive Machines (NASDAQ:LUNR) Sees Unusually-High Trading Volume on Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) shares 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 were traded 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.

Several other equities analysts have also issued reports on the company. Benchmark restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday. Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $10.60.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 50,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was 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 directly owns 362,810 shares of the company’s stock, valued at approximately $1,219,041.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Timothy Price Crain II sold 50,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was 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 directly owns 362,810 shares of the company’s stock, valued at approximately $1,219,041.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Vontur sold 10,274 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the transaction, the chief financial officer now directly owns 117,500 shares of the company’s stock, valued at $655,650. 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. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after purchasing an additional 429,531 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in Intuitive Machines during the 2nd quarter valued at $35,000. Sanders Morris Harris LLC acquired a new stake in Intuitive Machines during the 1st quarter valued at $119,000. Inscription Capital LLC acquired a new stake in Intuitive Machines during the 1st quarter valued at $304,000. Finally, Tealwood Asset Management Inc. acquired a new stake in Intuitive Machines during the 1st quarter valued at $131,000. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Trading Down 1.4 %

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 22.32 and a beta of 0.26. The stock has a fifty day moving average of $4.81 and a two-hundred day moving average of $4.93.

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

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.