Intuitive Machines (NASDAQ:LUNR) Stock Price Up 3.3% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares rose 3.3% during mid-day trading on Tuesday . The company traded as high as $16.26 and last traded at $16.24. 8,295,328 shares traded hands during trading, a decline of 32% from the average daily volume of 12,179,293 shares. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LUNR shares. Bank of America upped their target price on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Canaccord Genuity Group cut their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Finally, Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a research note on Thursday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Stock Up 3.3%

The firm has a market cap of $3.72 billion, a PE ratio of -17.09 and a beta of 1.85. The company has a 50-day simple moving average of $15.12 and a two-hundred day simple moving average of $21.53.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. As a group, equities analysts predict that Intuitive Machines, Inc. will post -0.6 earnings per share for the current year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Ghaffarian sold 1,698 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total value of $27,168.00. Following the transaction, the director directly owned 3,494,768 shares in the company, valued at $55,916,288. The trade was a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the transaction, the insider directly owned 11,495,514 shares of the company’s stock, valued at $147,602,399.76. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 12,343,437 shares of company stock worth $161,528,436. Insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the company. Calamos Advisors LLC bought a new stake in shares of Intuitive Machines in the first quarter valued at $2,984,000. Jefferies Financial Group Inc. bought a new position in shares of Intuitive Machines during the 4th quarter worth $717,000. Fifth Third Bancorp bought a new position in shares of Intuitive Machines during the 1st quarter worth $4,314,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Intuitive Machines by 202.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock worth $8,567,000 after acquiring an additional 308,755 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Intuitive Machines in the 2nd quarter worth about $3,565,000. 72.21% of the stock is owned by institutional investors.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.