Intuitive Machines (NASDAQ:LUNR) Shares Up 8.1% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares shot up 8.1% during mid-day trading on Tuesday . The company traded as high as $22.40 and last traded at $21.21. 10,512,767 shares changed hands during trading, a decline of 22% from the average session volume of 13,502,047 shares. The stock had previously closed at $19.62.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LUNR. Benchmark raised their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America began coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price on the stock. Finally, Cantor Fitzgerald raised 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. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.83.

Intuitive Machines Stock Up 0.7 %

The company has a fifty day moving average of $18.63 and a two-hundred day moving average of $11.80. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -6.71 and a beta of 0.92.

Insider Buying and Selling

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Vontur sold 4,528 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the sale, the insider now owns 104,272 shares in the company, valued at $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 sold a total of 771,632 shares of company stock valued at $12,947,078 over the last three months. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Intuitive Machines during the 4th quarter worth $44,000. Jones Financial Companies Lllp boosted its position in shares of Intuitive Machines by 751.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after buying an additional 3,381 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Intuitive Machines by 201.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after buying an additional 3,300 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Intuitive Machines in the 4th quarter worth about $91,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Intuitive Machines in the 4th quarter worth about $183,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.