Intuitive Machines (NASDAQ:LUNR) Trading 10.1% Higher - Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares traded up 10.1% on Wednesday . The stock traded as high as $12.34 and last traded at $12.42. 2,903,168 shares were traded during mid-day trading, a decline of 78% from the average session volume of 13,157,742 shares. The stock had previously closed at $11.28.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Roth Capital reiterated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Craig Hallum started coverage on shares of Intuitive Machines in a report on Tuesday. They set a "buy" rating and a $17.00 price objective on the stock. Bank of America dropped their price objective on shares of Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating on the stock in a report on Wednesday, July 16th. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Barclays assumed coverage on shares of Intuitive Machines in a research report on Thursday, May 22nd. They issued a "neutral" rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $15.60.

Intuitive Machines Stock Performance

The business's 50-day moving average price is $11.20 and its 200 day moving average price is $12.36. The company has a market cap of $2.20 billion, a P/E ratio of -4.51 and a beta of 1.41.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $66.07 million. Equities research analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 161,016 shares of Intuitive Machines stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $12.10, for a total value of $1,948,293.60. Following the completion of the transaction, the director owned 3,494,768 shares of the company's stock, valued at $42,286,692.80. This trade represents a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines 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 directly owned 366,824 shares of the company's stock, valued at $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 three months, insiders sold 394,200 shares of company stock valued at $4,752,942. Insiders own 39.75% of the company's stock.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC raised its stake in Intuitive Machines by 44.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 33,500 shares of the company's stock worth $364,000 after purchasing an additional 10,300 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in Intuitive Machines by 34.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,600 shares of the company's stock worth $235,000 after purchasing an additional 5,500 shares in the last quarter. LBP AM SA raised its position in shares of Intuitive Machines by 17.5% in the 2nd quarter. LBP AM SA now owns 136,998 shares of the company's stock valued at $1,489,000 after buying an additional 20,395 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Intuitive Machines by 30.6% in the 2nd quarter. Park Avenue Securities LLC now owns 14,258 shares of the company's stock valued at $155,000 after buying an additional 3,343 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new position in shares of Intuitive Machines in the 1st quarter valued at approximately $11,311,000. Institutional investors and hedge funds 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.