Short Interest in Intuitive Machines, Inc. (NASDAQ:LUNR) Grows By 59.9%

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 6,030,000 shares, a growth of 59.9% from the March 31st total of 3,770,000 shares. Currently, 14.2% of the shares of the company are sold short. Based on an average daily volume of 9,890,000 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, major shareholder Guy Shanon sold 123,717 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $8.99, for a total value of $1,112,215.83. Following the completion of the transaction, the insider now owns 1,302,673 shares in the company, valued at approximately $11,711,030.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 78.93% of the company's stock.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at about $365,000. Nomura Holdings Inc. purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at about $1,369,000. Hemington Wealth Management purchased a new position in shares of Intuitive Machines during the 4th quarter valued at about $26,000. Sanders Morris Harris LLC purchased a new position in shares of Intuitive Machines during the 1st quarter valued at about $119,000. Finally, Inscription Capital LLC purchased a new position in shares of Intuitive Machines during the 1st quarter valued at about $304,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

Intuitive Machines Stock Up 0.2 %

LUNR traded up $0.01 during trading on Friday, reaching $5.44. 1,461,672 shares of the company were exchanged, compared to its average volume of 3,385,477. The company's 50-day moving average is $6.00 and its two-hundred day moving average is $4.12. The company has a market cap of $663.63 million, a price-to-earnings ratio of 2.20 and a beta of 0.23. Intuitive Machines has a 12-month low of $2.09 and a 12-month high of $13.25.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Monday, March 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. The business had revenue of $30.56 million for the quarter, compared to analysts' expectations of $17.70 million. Intuitive Machines had a negative return on equity of 2.04% and a net margin of 78.98%. Equities analysts forecast that Intuitive Machines will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LUNR shares. Roth Mkm reiterated a "buy" rating and set a $15.00 price target on shares of Intuitive Machines in a research note on Thursday, April 4th. Cantor Fitzgerald cut their price target on Intuitive Machines from $13.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, March 22nd. Finally, Benchmark reiterated a "buy" rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Thursday, April 4th.

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.