Intuitive Machines (NASDAQ:LUNR) Trading 12.9% Higher – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price rose 12.9% on Monday . The company traded as high as $15.76 and last traded at $15.72. 11,484,719 shares were traded during trading, a decline of 6% from the average daily volume of 12,190,417 shares. The stock had previously closed at $13.92.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research report on Monday. Bank of America lifted their price objective on Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. B. Riley Financial cut their price objective on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. 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’s stock. Based on data from MarketBeat.com, Intuitive Machines currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Intuitive Machines Stock Performance

The company has a 50 day moving average of $15.15 and a 200 day moving average of $21.52. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -16.01 and a beta of 1.85.

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

Insider Activity

In related news, insider Steven Vontur sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the transaction, the insider directly owned 113,997 shares of the company’s stock, valued at $1,838,771.61. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 267,448 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $56,510,398.56. The trade was a 7.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 12,343,437 shares of company stock worth $161,528,436. Insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Tema ETFs LLC lifted its holdings in Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after acquiring an additional 3,102,854 shares during the period. Tidal Investments LLC purchased a new stake in Intuitive Machines in the 2nd quarter worth approximately $64,452,000. Renaissance Technologies LLC purchased a new position in Intuitive Machines during the first quarter worth about $35,895,000. Bank of America Corp DE lifted its holdings in shares of Intuitive Machines by 188.9% during the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after acquiring an additional 1,231,188 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Intuitive Machines by 28.8% in the 1st quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock valued at $12,200,000 after purchasing an additional 147,095 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.