Intuitive Machines (NASDAQ:LUNR) Trading 3.6% Higher – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 3.6% on Wednesday . The company traded as high as $14.14 and last traded at $13.96. 3,717,372 shares were traded during mid-day trading, a decline of 72% from the average session volume of 13,510,383 shares. The stock had previously closed at $13.47.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LUNR. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price for the company. Benchmark lifted their price objective 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. 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 note on Friday, November 15th. Canaccord Genuity Group lifted their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Bank of America started coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.14.

Intuitive Machines Price Performance

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -4.72 and a beta of 1.01. The firm has a fifty day simple moving average of $19.07 and a 200 day simple moving average of $12.63.

Insider Buying and Selling at Intuitive Machines

In related news, insider Steven Vontur sold 9,266 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the transaction, the insider now directly owns 98,656 shares of the company’s stock, valued at $2,219,760. The trade was a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold 393,659 shares of company stock worth $7,262,364 in the last ninety days. 73.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PharVision Advisers LLC acquired a new position in shares of Intuitive Machines during the 4th quarter worth approximately $185,000. Voloridge Investment Management LLC purchased a new position in shares of Intuitive Machines in the 4th quarter worth about $3,768,000. Soviero Asset Management LP lifted its position in Intuitive Machines by 65.0% during the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock valued at $5,993,000 after buying an additional 130,000 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Intuitive Machines during the 4th quarter valued at $4,971,000. Finally, Two Sigma Investments LP acquired a new position in shares of Intuitive Machines during the fourth quarter worth about $33,255,000. 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.