Intuitive Machines (NASDAQ:LUNR) Trading 3.3% Higher – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were up 3.3% during trading on Friday . The stock traded as high as $8.19 and last traded at $8.18. Approximately 3,165,535 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 8,744,353 shares. The stock had previously closed at $7.92.

Wall Street Analyst Weigh In

Several analysts recently commented on LUNR shares. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Monday, September 30th. Roth Mkm reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley lifted their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $10.60.

Intuitive Machines Stock Up 0.4 %

The firm has a market cap of $990.82 million, a price-to-earnings ratio of 19.95 and a beta of 0.34. The company has a 50-day moving average price of $6.61 and a 200 day moving average price of $5.25.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. Equities analysts forecast that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $29,041,522.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $29,041,522.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Altemus sold 250,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $9.01, for a total value of $2,252,500.00. Following the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $8,207,380.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,111,589 shares of company stock valued at $30,409,186. Insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Large investors have recently made changes to their positions in the business. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines during the 2nd quarter worth about $35,000. Sender Co & Partners Inc. acquired a new position in Intuitive Machines in the 2nd quarter valued at approximately $56,000. Baltimore Washington Financial Advisors Inc. acquired a new position in Intuitive Machines in the 1st quarter valued at approximately $67,000. Waldron Private Wealth LLC acquired a new position in Intuitive Machines in the 3rd quarter valued at approximately $83,000. Finally, SG Americas Securities LLC acquired a new position in Intuitive Machines in the 3rd quarter valued at approximately $93,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.