Intuitive Machines (NASDAQ:LUNR) Sets New 1-Year High - Here's What Happened

Key Points

• Intuitive Machines shares hit a new 52-week high, trading as high as $24.16 (last $23.82) on heavy volume and rising roughly 14.4% during the session.
• Multiple firms raised price targets (KeyCorp and Cantor Fitzgerald to $26, Deutsche Bank and Canaccord higher), leaving many Buy ratings but a MarketBeat consensus of "Hold" with an average target of $19.94.
• The company slightly beat quarterly EPS estimates but missed revenue expectations, and insiders sold about 1.77 million shares (≈$33.35M) in the past three months while still owning roughly 39.8% of the stock.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $24.16 and last traded at $23.82, with a volume of 18436960 shares traded. The stock had previously closed at $20.24.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LUNR. KeyCorp raised their target price on shares of Intuitive Machines from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intuitive Machines from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Canaccord Genuity Group raised their price objective on Intuitive Machines from $22.50 to $24.00 and gave the company a "buy" rating in a report on Friday, March 20th. Cantor Fitzgerald lifted their target price on Intuitive Machines from $16.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, March 20th. Finally, Roth Mkm reiterated a "buy" rating on shares of Intuitive Machines in a report on Wednesday, February 25th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $19.94.

Intuitive Machines Stock Up 14.4%

The stock's fifty day moving average is $18.21 and its two-hundred day moving average is $14.57. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -31.36 and a beta of 1.40.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $44.79 million during the quarter, compared to analyst estimates of $53.37 million. As a group, analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 283,818 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total value of $5,330,102.04. Following the sale, the director owned 3,494,768 shares in the company, valued at $65,631,743.04. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Mcgrath sold 25,541 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total value of $445,435.04. Following the completion of the sale, the chief financial officer directly owned 425,800 shares of the company's stock, valued at approximately $7,425,952. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,773,731 shares of company stock worth $33,353,852 in the last three months. Insiders own 39.75% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in Intuitive Machines during the 4th quarter valued at $28,000. GAMMA Investing LLC increased its holdings in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock valued at $43,000 after purchasing an additional 781 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock valued at $43,000 after purchasing an additional 1,016 shares during the last quarter. CWM LLC raised its position in shares of Intuitive Machines by 406.4% in the fourth quarter. CWM LLC now owns 2,912 shares of the company's stock valued at $47,000 after purchasing an additional 2,337 shares during the period. Finally, Sunbelt Securities Inc. lifted its stake in shares of Intuitive Machines by 144.8% during the 4th quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company's stock worth $48,000 after buying an additional 1,738 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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