Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Tuesday . The stock had previously closed at $16.91, but opened at $17.85. Intuitive Machines shares last traded at $18.02, with a volume of 1,760,818 shares changing hands.

Analysts Set New Price Targets

LUNR has been the subject of a number of recent research reports. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Cantor Fitzgerald increased their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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 note on Thursday, September 19th. Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, Canaccord Genuity Group boosted their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Stock Down 2.1 %

The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -6.38 and a beta of 0.90. The company has a 50 day simple moving average of $14.54 and a 200 day simple moving average of $8.86.

Insiders Place Their Bets

In related news, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $7.93, for a total value of $1,409,430.62. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $27,713,510.24. This represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,954,713 shares of company stock worth $24,475,385 over the last three months. 73.68% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $85,000. SG Americas Securities LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $93,000. Creative Planning acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $105,000. Finally, LMR Partners LLP acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $110,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.