Intuitive Machines (NASDAQ:LUNR) Trading Up 12.2% on Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 12.2% during trading on Friday after Canaccord Genuity Group raised their price target on the stock from $11.00 to $12.50. Canaccord Genuity Group currently has a buy rating on the stock. Intuitive Machines traded as high as $11.49 and last traded at $11.48. 5,931,064 shares were traded during trading, a decline of 36% from the average session volume of 9,338,005 shares. The stock had previously closed at $10.23.

Several other analysts have also recently commented on the stock. Benchmark raised their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Cantor Fitzgerald boosted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday. Finally, B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $13.10.

Insider Buying and Selling at Intuitive Machines

In related news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen J. Altemus sold 138,568 shares of the company’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 value of $1,538,104.80. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $10,111,200.90. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,763,571 shares of company stock worth $38,671,383 over the last ninety days. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines in the second quarter valued at approximately $35,000. Sender Co & Partners Inc. acquired a new position in Intuitive Machines during the 2nd quarter valued at $56,000. Waldron Private Wealth LLC bought a new stake in Intuitive Machines in the 3rd quarter valued at $83,000. The Manufacturers Life Insurance Company acquired a new stake in Intuitive Machines in the 3rd quarter worth $85,000. Finally, SG Americas Securities LLC bought a new position in shares of Intuitive Machines during the 3rd quarter worth about $93,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Up 21.4 %

The stock’s 50-day moving average price is $7.87 and its 200 day moving average price is $5.66. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -13.99 and a beta of 0.35.

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