Intuitive Machines (NASDAQ:LUNR) Shares Gap Up - Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $11.34, but opened at $11.92. Intuitive Machines shares last traded at $12.81, with a volume of 2,352,389 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on LUNR. Cantor Fitzgerald boosted their price objective on Intuitive Machines from $13.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 target price for the company. B. Riley reiterated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, March 25th. Bank of America began coverage on Intuitive Machines in a research report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price objective on the stock. Finally, Barclays initiated coverage on Intuitive Machines in a research report on Thursday, May 22nd. They set a "neutral" rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.06.

Intuitive Machines Price Performance

The company has a market cap of $2.13 billion, a P/E ratio of -4.06 and a beta of 1.32. The company's 50-day moving average is $9.11 and its two-hundred day moving average is $13.31.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.10). The firm had revenue of $62.52 million for the quarter, compared to analysts' expectations of $66.07 million. Equities research analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Activity at Intuitive Machines

In related news, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total transaction of $866,016.00. Following the sale, the chief financial officer now owns 366,824 shares of the company's stock, valued at approximately $4,401,888. This trade represents a 16.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $12.10, for a total transaction of $1,948,293.60. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $42,286,692.80. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 271,090 shares of company stock worth $3,106,565. 73.68% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

Hedge funds have recently modified their holdings of the company. Philadelphia Trust Co. boosted its holdings in shares of Intuitive Machines by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock worth $82,000 after purchasing an additional 1,000 shares during the period. Invesco Ltd. lifted its position in Intuitive Machines by 8.3% in the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company's stock worth $244,000 after buying an additional 1,026 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Intuitive Machines by 10.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock worth $312,000 after buying an additional 1,566 shares during the period. Quarry LP bought a new position in Intuitive Machines during the fourth quarter valued at $44,000. Finally, Bank of New York Mellon Corp increased its position in Intuitive Machines by 3.7% during the fourth quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company's stock valued at $1,285,000 after acquiring an additional 2,499 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.