Intuitive Machines (NASDAQ:LUNR) Trading 9% Higher – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) shot up 9% during trading on Friday . The stock traded as high as $21.07 and last traded at $21.06. 3,162,540 shares were traded during mid-day trading, a decline of 78% from the average session volume of 14,603,064 shares. The stock had previously closed at $19.32.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LUNR shares. Benchmark raised their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. B. Riley boosted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Canaccord Genuity Group decreased their price objective on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research report on Friday, December 6th. Finally, Cantor Fitzgerald upped their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines has an average rating of “Buy” and a consensus target price of $14.10.

Intuitive Machines Stock Up 12.2 %

The firm has a market capitalization of $3.04 billion, a PE ratio of -7.37 and a beta of 0.93. The company has a 50-day moving average of $12.76 and a 200 day moving average of $7.92.

Insider Buying and Selling

In other news, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,080,704 shares of company stock worth $25,411,498 in the last quarter. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines during the 2nd quarter worth $35,000. Sender Co & Partners Inc. purchased a new position in shares of Intuitive Machines during the 2nd quarter valued at about $56,000. Waldron Private Wealth LLC bought a new position in shares of Intuitive Machines during the 3rd quarter valued at approximately $83,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines in the 3rd quarter worth approximately $85,000. Finally, SG Americas Securities LLC bought a new stake in Intuitive Machines during the 3rd quarter worth approximately $93,000. Institutional investors 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.