Intuitive Machines (NASDAQ:LUNR) Sees Large Volume Increase – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares saw unusually-high trading volume on Wednesday . Approximately 5,073,422 shares were traded during trading, a decline of 41% from the previous session’s volume of 8,668,641 shares.The stock last traded at $7.17 and had previously closed at $7.39.

Analysts Set New Price Targets

LUNR has been the subject of several research reports. Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Monday, September 30th. B. Riley boosted their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Roth Mkm reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Buy” and a consensus target price of $10.60.

Intuitive Machines Stock Down 4.9 %

The firm has a fifty day moving average price of $5.65 and a 200-day moving average price of $5.11. The firm has a market cap of $876.16 million, a price-to-earnings ratio of 17.34 and a beta of 0.34.

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, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. Equities research analysts anticipate that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Stephen J. Altemus sold 203,018 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was 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 in the company, valued at approximately $4,126,463.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Stephen J. Altemus sold 203,018 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total value of $919,671.54. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $4,126,463.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at approximately $29,041,522.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,991,744 shares of company stock worth $28,226,603 over the last quarter. 73.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Inscription Capital LLC bought a new position in shares of Intuitive Machines in the first quarter valued at approximately $304,000. Tealwood Asset Management Inc. bought a new position in shares of Intuitive Machines in the first quarter valued at approximately $131,000. Sanders Morris Harris LLC bought a new position in shares of Intuitive Machines in the first quarter valued at approximately $119,000. Deuterium Capital Management LLC bought a new position in shares of Intuitive Machines in the first quarter valued at approximately $125,000. Finally, Baltimore Washington Financial Advisors Inc. bought a new position in shares of Intuitive Machines in the first quarter valued at approximately $67,000. Institutional investors and hedge funds 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.