Intuitive Machines (NASDAQ:LUNR) Trading Up 1.4% – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) shot up 1.4% on Wednesday . The stock traded as high as $7.24 and last traded at $7.11. 2,718,679 shares changed hands during trading, a decline of 76% from the average session volume of 11,560,553 shares. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

Several research firms have commented on LUNR. Roth Mkm cut their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Bank of America began coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective on the stock. Roth Capital set a $20.00 target price on Intuitive Machines in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price on the stock. Finally, Canaccord Genuity Group decreased their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Intuitive Machines Stock Up 4.0 %

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -2.49 and a beta of 1.01. The business has a 50 day moving average of $16.90 and a 200 day moving average of $12.86.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares in the company, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 392,713 shares of company stock valued at $7,250,066 over the last quarter. Insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently modified their holdings of LUNR. Two Sigma Investments LP purchased a new position in shares of Intuitive Machines in the 4th quarter worth about $33,255,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Intuitive Machines by 3,991.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock worth $21,102,000 after purchasing an additional 1,133,581 shares during the period. Vanguard Group Inc. raised its holdings in shares of Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after purchasing an additional 1,017,706 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock worth $22,170,000 after purchasing an additional 609,118 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Intuitive Machines in the 4th quarter worth about $9,133,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Machines

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.