Intuitive Machines (NASDAQ:LUNR) Sees Large Volume Increase – Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually-high trading volume on Friday . Approximately 8,710,354 shares changed hands during mid-day trading, a decline of 40% from the previous session’s volume of 14,552,485 shares.The stock last traded at $23.53 and had previously closed at $22.17.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LUNR shares. Benchmark raised their target price 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 lifted their price target 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. Finally, Canaccord Genuity Group raised their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Trading Up 9.6 %

The company has a market cap of $3.41 billion, a PE ratio of -8.19 and a beta of 0.90. The business’s 50 day moving average is $15.98 and its two-hundred day moving average is $9.60.

Insider Activity

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 177,734 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $27,713,510.24. This trade represents a 4.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total transaction of $675,752.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,020,109. This trade represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,609,820 shares of company stock worth $21,709,343 over the last ninety days. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of the stock. Sender Co & Partners Inc. bought a new position in shares of Intuitive Machines during the 2nd quarter valued at about $56,000. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines in the third quarter worth about $83,000. The Manufacturers Life Insurance Company bought a new position in Intuitive Machines during the third quarter valued at approximately $85,000. SG Americas Securities LLC purchased a new position in Intuitive Machines during the 3rd quarter valued at approximately $93,000. Finally, Creative Planning bought a new stake in Intuitive Machines in the 3rd quarter worth approximately $105,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.