Intuitive Machines (NASDAQ:LUNR) Shares Up 8.7% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 8.7% during mid-day trading on Friday . The stock traded as high as $24.95 and last traded at $24.09. Approximately 14,602,102 shares were traded during trading, a decline of 3% from the average daily volume of 14,997,783 shares. The stock had previously closed at $22.17.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Benchmark lifted their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Canaccord Genuity Group increased their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Stock Performance

The stock has a market capitalization of $3.24 billion, a P/E ratio of -7.85 and a beta of 0.90. The business has a 50-day moving average price of $16.20 and a 200 day moving average price of $9.73.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,609,820 shares of company stock valued at $21,709,343. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LUNR. Tealwood Asset Management Inc. increased its holdings in Intuitive Machines by 4.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock worth $380,000 after buying an additional 900 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Intuitive Machines by 55.7% during the 4th quarter. SG Americas Securities LLC now owns 18,046 shares of the company’s stock valued at $328,000 after acquiring an additional 6,454 shares during the last quarter. State Street Corp grew its stake in shares of Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after acquiring an additional 7,538 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines during the third quarter valued at approximately $83,000. Finally, The Manufacturers Life Insurance Company bought a new position in Intuitive Machines during the third quarter valued at approximately $85,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.