Intuitive Machines (NASDAQ:LUNR) Sets New 12-Month High – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price reached a new 52-week high on Monday . The company traded as high as $29.25 and last traded at $28.8820, with a volume of 3349425 shares changing hands. The stock had previously closed at $27.58.

Analyst Upgrades and Downgrades

LUNR has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on shares of Intuitive Machines from $22.50 to $24.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research report on Thursday, January 22nd. Cantor Fitzgerald upped their target price on shares of Intuitive Machines from $16.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intuitive Machines from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Hold” and an average price target of $21.45.

Intuitive Machines Stock Up 1.1%

The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -37.59 and a beta of 1.31. The firm’s 50 day moving average is $19.77 and its two-hundred day moving average is $16.03.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million. On average, analysts anticipate that Intuitive Machines, Inc. will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuitive Machines news, CFO Peter Mcgrath sold 24,554 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $579,719.94. Following the sale, the chief financial officer owned 401,246 shares in the company, valued at approximately $9,473,418.06. This trade represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Vontur sold 4,343 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total transaction of $75,741.92. Following the completion of the sale, the insider owned 117,047 shares in the company, valued at $2,041,299.68. The trade was a 3.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 762,392 shares of company stock valued at $14,674,660 in the last ninety days. Insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Intuitive Machines by 13.3% in the third quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock valued at $64,067,000 after purchasing an additional 717,256 shares during the period. Trustees of the University of Pennsylvania bought a new position in shares of Intuitive Machines in the fourth quarter valued at approximately $52,689,000. UBS Group AG boosted its holdings in shares of Intuitive Machines by 22.0% in the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock valued at $50,238,000 after acquiring an additional 557,517 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock valued at $44,399,000 after acquiring an additional 61,084 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Intuitive Machines by 18.4% in the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after acquiring an additional 415,359 shares in the last quarter. Institutional investors and hedge funds 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.