Intuitive Machines (NASDAQ:LUNR) Shares Up 8.2% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded up 8.2% on Wednesday . The stock traded as high as $18.67 and last traded at $19.0030. 3,773,295 shares were traded during trading, a decline of 69% from the average session volume of 12,107,537 shares. The stock had previously closed at $17.57.

Analysts Set New Price Targets

Several research firms have commented on LUNR. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Intuitive Machines and gave the company a “buy” rating in a research report on Friday, October 17th. Canaccord Genuity Group raised their target price on Intuitive Machines from $15.50 to $22.50 and gave the company a “buy” rating in a report on Monday. Finally, B. Riley lifted their price target on Intuitive Machines from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Intuitive Machines Trading Up 10.7%

The company’s 50-day simple moving average is $13.21 and its 200-day simple moving average is $11.53. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -8.74 and a beta of 1.37.

Insider Buying and Selling

In other news, CEO Stephen J. Altemus sold 1,958,593 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $15.77, for a total transaction of $30,887,011.61. Following the completion of the transaction, the chief executive officer directly owned 1,026,402 shares in the company, valued at $16,186,359.54. This trade represents a 65.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 200,000 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $16.04, for a total value of $3,208,000.00. Following the completion of the transaction, the senior vice president directly owned 298,435 shares in the company, valued at approximately $4,786,897.40. This represents a 40.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,868,329 shares of company stock valued at $46,252,754 in the last three months. Insiders own 39.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $194,000. CoreCap Advisors LLC bought a new position in Intuitive Machines during the fourth quarter worth $104,000. Green Alpha Advisors LLC acquired a new position in Intuitive Machines in the fourth quarter valued at $468,000. GAMMA Investing LLC lifted its holdings in Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after buying an additional 781 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Intuitive Machines during the third quarter valued at $123,000. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.