Intuitive Machines (NASDAQ:LUNR) Shares Up 9.2% - Here's What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares shot up 9.2% on Friday . The stock traded as high as $11.72 and last traded at $11.88. 3,958,395 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 12,676,257 shares. The stock had previously closed at $10.88.

Analysts Set New Price Targets

Several brokerages have weighed in on LUNR. Benchmark reiterated a "buy" rating and issued a $16.00 price target on shares of Intuitive Machines in a report on Tuesday, March 25th. Canaccord Genuity Group boosted their price target on Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a report on Wednesday, May 14th. Cantor Fitzgerald boosted their price target on Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a "hold" rating and a $18.00 price objective for the company. Finally, Barclays assumed coverage on shares of Intuitive Machines in a research note on Thursday, May 22nd. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Intuitive Machines presently has an average rating of "Moderate Buy" and an average price target of $16.06.

Intuitive Machines Stock Performance

The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -4.01 and a beta of 1.47. The business has a fifty day moving average price of $9.46 and a 200 day moving average price of $13.30.

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

Insider Buying and Selling

In related news, CFO Peter Mcgrath sold 72,168 shares of the firm's stock in a transaction dated 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 directly owns 366,824 shares in the company, valued at approximately $4,401,888. This trade represents a 16.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 40,254 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $12.04, for a total value of $484,658.16. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $42,077,006.72. The trade was a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,344 shares of company stock valued at $3,591,223. 73.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

Large investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in Intuitive Machines in the fourth quarter valued at approximately $44,000. Jones Financial Companies Lllp grew its position in Intuitive Machines by 751.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock valued at $70,000 after acquiring an additional 3,381 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock valued at $90,000 after acquiring an additional 3,300 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Intuitive Machines during the fourth quarter valued at about $91,000. Finally, GAMMA Investing LLC grew its stake in shares of Intuitive Machines by 97,862.5% during the first quarter. GAMMA Investing LLC now owns 7,837 shares of the company's stock valued at $580,000 after acquiring an additional 7,829 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

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.