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

Key Points

• Intuitive Machines shares experienced a gap up in trading, opening at $13.29 after a previous close of $12.82, with current trading around $12.85.
• Analysts have issued mixed ratings on the stock, with Cantor Fitzgerald upgrading the price target to $16.00, while the consensus rating is a "Moderate Buy" with an average price target of $15.60.
• Recent insider activity includes significant stock sales by Director Kamal Seyed Ghaffarian and CFO Peter Mcgrath, indicating a 1.14% and 16.44% decrease in their respective positions.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $12.82, but opened at $13.29. Intuitive Machines shares last traded at $12.85, with a volume of 2,939,088 shares changing hands.

Wall Street Analysts Forecast Growth

LUNR has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their target price on Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Barclays initiated coverage on Intuitive Machines in a report on Thursday, May 22nd. They issued a "neutral" rating on the stock. Canaccord Genuity Group raised their target price on Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a report on Wednesday, May 14th. Craig Hallum initiated coverage on Intuitive Machines in a report on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 target price on the stock. Finally, Roth Capital reaffirmed a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.60.

Intuitive Machines Trading Down 0.7%

The company has a 50 day moving average of $11.21 and a 200 day moving average of $12.22. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -4.66 and a beta of 1.41.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The company had revenue of $62.52 million during the quarter, compared to analyst estimates of $66.07 million. As a group, sell-side analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 40,254 shares of Intuitive Machines stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $12.02, for a total value of $483,853.08. Following the completion of the transaction, the director owned 3,494,768 shares in the company, valued at approximately $42,007,111.36. The trade was a 1.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the completion of the transaction, the chief financial officer owned 366,824 shares of the company's stock, valued at approximately $4,401,888. The trade was a 16.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 394,200 shares of company stock worth $4,752,942. 39.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of the business. Philadelphia Trust Co. raised its position in shares of Intuitive Machines by 10.0% during the first quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock worth $82,000 after acquiring an additional 1,000 shares during the last quarter. Invesco Ltd. raised its position in shares of Intuitive Machines by 8.3% during the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company's stock worth $244,000 after acquiring an additional 1,026 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 acquiring an additional 1,566 shares during the last quarter. Quarry LP acquired a new stake in shares of Intuitive Machines during the fourth quarter worth $44,000. Finally, Freedom Investment Management Inc. grew its stake in shares of Intuitive Machines by 30.4% during the first quarter. Freedom Investment Management Inc. now owns 14,061 shares of the company's stock worth $105,000 after purchasing an additional 3,281 shares during the period. 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.

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