Intuitive Machines (NASDAQ:LUNR) Stock Price Up 8.8% - Here's What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) rose 8.8% on Friday . The stock traded as high as $9.42 and last traded at $9.38. 1,981,843 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 12,656,771 shares. The stock had previously closed at $8.62.

Analyst Ratings Changes

LUNR has been the subject of a number of research reports. Roth Mkm dropped their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. B. Riley restated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, March 25th. Cantor Fitzgerald dropped their target price on Intuitive Machines from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, March 25th. Roth Capital set a $20.00 price target on shares of Intuitive Machines in a report on Friday, March 7th. Finally, Canaccord Genuity Group reduced their price objective on Intuitive Machines from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Intuitive Machines currently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Intuitive Machines Price Performance

The business has a 50-day moving average of $8.29 and a two-hundred day moving average of $12.99. The company has a market cap of $1.62 billion, a P/E ratio of -3.10 and a beta of 1.32.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.12. The business had revenue of $54.66 million during the quarter, compared to analyst estimates of $72.58 million. Equities analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the transaction, the insider now directly owns 104,272 shares of the company's stock, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Peter Mcgrath sold 37,906 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $7.71, for a total transaction of $292,255.26. Following the sale, the chief financial officer now owns 438,992 shares of the company's stock, valued at approximately $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. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LUNR. XTX Topco Ltd boosted its holdings in Intuitive Machines by 1,207.6% in the first quarter. XTX Topco Ltd now owns 156,998 shares of the company's stock valued at $1,170,000 after purchasing an additional 144,991 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Intuitive Machines in the 1st quarter valued at about $111,000. ARK Investment Management LLC purchased a new stake in shares of Intuitive Machines in the first quarter worth about $5,531,000. Nikko Asset Management Americas Inc. acquired a new stake in Intuitive Machines during the first quarter worth about $1,930,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Intuitive Machines during the first quarter valued at approximately $120,000. Hedge funds and other institutional investors 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.