Intuitive Machines (NASDAQ:LUNR) Trading 5.8% Higher – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded up 5.8% during mid-day trading on Friday . The company traded as high as $20.24 and last traded at $19.79. Approximately 15,943,648 shares traded hands during trading, an increase of 17% from the average session volume of 13,618,783 shares. The stock had previously closed at $18.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LUNR shares. Canaccord Genuity Group increased their target price on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a research report on Friday, May 15th. B. Riley Financial reiterated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday. KeyCorp increased their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Trading Up 5.9%

The firm has a market capitalization of $4.30 billion, a PE ratio of -22.50 and a beta of 1.68. The firm has a 50 day simple moving average of $29.64 and a 200 day simple moving average of $22.10.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Research analysts forecast that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Intuitive Machines

In other news, Director William John Liquori, Jr. sold 18,321 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the completion of the transaction, the director directly owned 68,875 shares of the company’s stock, valued at $2,057,296.25. The trade was a 21.01% decrease in their ownership of the stock. 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 141,909 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $39.02, for a total transaction of $5,537,289.18. Following the transaction, the director owned 3,494,768 shares in the company, valued at approximately $136,365,847.36. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,066,527 shares of company stock worth $29,896,194. 54.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Intuitive Machines in the 4th quarter worth $28,000. State of Wyoming purchased a new stake in Intuitive Machines during the first quarter valued at $39,000. Larson Financial Group LLC lifted its holdings in Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after acquiring an additional 1,016 shares during the period. GAMMA Investing LLC boosted its position in Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after purchasing an additional 712 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

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.