Intuitive Machines (NASDAQ:LUNR) Trading 6.5% Higher - Here's Why

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares were up 6.5% during mid-day trading on Thursday . The company traded as high as $10.85 and last traded at $10.69. Approximately 2,923,164 shares were traded during trading, a decline of 77% from the average daily volume of 12,838,596 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

LUNR has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Intuitive Machines in a research note on Tuesday, March 25th. B. Riley reiterated a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, March 25th. Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, May 13th. Cantor Fitzgerald lifted 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. Finally, Barclays started coverage on Intuitive Machines in a research note on Thursday, May 22nd. They set a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.06.

Intuitive Machines Trading Up 9.0%

The stock has a 50-day moving average price of $10.22 and a two-hundred day moving average price of $13.00. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -3.99 and a beta of 1.47.

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

Insider Buying and Selling at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 40,254 shares of Intuitive Machines stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $12.04, for a total transaction of $484,658.16. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $42,077,006.72. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter Mcgrath sold 37,906 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $7.71, for a total value of $292,255.26. Following the completion of the transaction, the chief financial officer now directly owns 438,992 shares of the company's stock, valued at $3,384,628.32. The trade was a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,344 shares of company stock worth $3,591,223. Company insiders own 39.75% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in LUNR. Headlands Technologies LLC grew its position in Intuitive Machines by 161,529.8% during the fourth quarter. Headlands Technologies LLC now owns 244,061 shares of the company's stock valued at $4,432,000 after buying an additional 243,910 shares during the period. SBI Securities Co. Ltd. acquired a new position in Intuitive Machines in the 4th quarter worth about $2,361,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Intuitive Machines in the fourth quarter valued at approximately $5,600,000. Bank of America Corp DE increased its position in shares of Intuitive Machines by 209.0% in the fourth quarter. Bank of America Corp DE now owns 57,192 shares of the company's stock valued at $1,039,000 after buying an additional 38,684 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Intuitive Machines by 20.5% during the 4th quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company's stock valued at $20,437,000 after buying an additional 191,733 shares in the last quarter. 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.

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