Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $13.57, but opened at $14.33. Intuitive Machines shares last traded at $14.32, with a volume of 12,679,634 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Canaccord Genuity Group lowered their price target on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a report on Friday, December 6th. Cantor Fitzgerald upped their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Benchmark lifted their price target 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. Roth Mkm reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, B. Riley raised their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Intuitive Machines presently has an average rating of “Buy” and an average price target of $14.10.

Intuitive Machines Price Performance

The stock’s fifty day simple moving average is $11.03 and its 200 day simple moving average is $7.12. The firm has a market capitalization of $2.02 billion, a P/E ratio of -4.90 and a beta of 0.93.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $52,561,310.72. The trade was a 9.76 % 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 the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the transaction, the chief executive officer now owns 910,919 shares in the company, valued at $10,020,109. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,701,785 shares of company stock valued at $18,458,666 in the last 90 days. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds have recently modified their holdings of the business. FORA Capital LLC purchased a new stake in Intuitive Machines during the 3rd quarter valued at about $458,000. Squarepoint Ops LLC purchased a new stake in shares of Intuitive Machines in the second quarter valued at approximately $536,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Intuitive Machines by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after purchasing an additional 32,015 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Intuitive Machines during the second quarter worth approximately $35,000. Finally, XTX Topco Ltd purchased a new stake in Intuitive Machines in the 2nd quarter valued at $164,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.