Intuitive Machines Target of Unusually High Options Trading (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders purchased 47,070 call options on the company. This represents an increase of approximately 89% compared to the typical volume of 24,889 call options.

Analysts Set New Price Targets

Several research analysts have recently commented on LUNR shares. Barclays started coverage on shares of Intuitive Machines in a research note on Thursday, May 22nd. They set a "neutral" rating on the stock. Roth Capital restated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Canaccord Genuity Group upped their price target on Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Craig Hallum initiated coverage on Intuitive Machines in a report on Tuesday. They set a "buy" rating and a $17.00 price objective on the stock. Finally, Cantor Fitzgerald raised their price objective on Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Intuitive Machines currently has an average rating of "Moderate Buy" and a consensus target price of $15.60.

Insider Buying and Selling

In other Intuitive Machines news, CFO Peter Mcgrath sold 72,168 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total value of $866,016.00. Following the transaction, the chief financial officer directly owned 366,824 shares of the company's stock, valued at $4,401,888. This represents a 16.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 40,254 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $12.02, for a total transaction of $483,853.08. Following the transaction, the director directly 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 disclosure for this sale can be found here. In the last quarter, 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 LUNR. KLP Kapitalforvaltning AS lifted its position in shares of 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 acquiring an additional 5,500 shares during the period. LBP AM SA lifted its position in Intuitive Machines by 17.5% in the second quarter. LBP AM SA now owns 136,998 shares of the company's stock worth $1,489,000 after purchasing an additional 20,395 shares during the period. Park Avenue Securities LLC lifted its position in Intuitive Machines by 30.6% in the second quarter. Park Avenue Securities LLC now owns 14,258 shares of the company's stock worth $155,000 after purchasing an additional 3,343 shares during the period. Voya Investment Management LLC acquired a new stake in Intuitive Machines during the first quarter worth $11,311,000. Finally, Rhumbline Advisers increased its holdings in Intuitive Machines by 19.7% in the 1st quarter. Rhumbline Advisers now owns 52,260 shares of the company's stock valued at $389,000 after buying an additional 8,612 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Trading Down 4.3%

NASDAQ:LUNR traded down $0.58 during mid-day trading on Thursday, hitting $12.79. 9,062,622 shares of the company's stock traded hands, compared to its average volume of 8,314,284. The firm has a 50 day moving average of $11.20 and a two-hundred day moving average of $12.36. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -4.68 and a beta of 1.41. Intuitive Machines has a 12 month low of $3.15 and a 12 month high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $62.52 million during the quarter, compared to the consensus estimate of $66.07 million. As a group, equities research analysts expect that Intuitive Machines will post 0.73 earnings per share for the current year.

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.