Intuitive Machines (NASDAQ:LUNR) Sees Unusually-High Trading Volume – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually-high trading volume on Monday . Approximately 4,238,200 shares traded hands during mid-day trading, a decline of 57% from the previous session’s volume of 9,827,564 shares.The stock last traded at $14.98 and had previously closed at $15.12.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group increased their price target on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald lifted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Trading Down 4.2 %

The company has a 50 day moving average price of $9.11 and a 200 day moving average price of $6.10.

Insiders Place Their Bets

In other news, CEO Stephen J. Altemus sold 440,288 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total value of $2,654,936.64. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $5,492,841.57. This trade represents a 32.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $4,390,001. This represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,763,571 shares of company stock worth $38,671,383. 73.68% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Intuitive Machines by 250.0% in the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares during the period. State Street Corp increased its stake in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after purchasing an additional 7,538 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Intuitive Machines during the second quarter worth $536,000. Finally, Penserra Capital Management LLC boosted its position in Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after purchasing an additional 20,916 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.