Intuitive Machines (NASDAQ:LUNR) Shares Cross Above 50-Day Moving Average - Should You Sell?

Key Points

• Intuitive Machines shares rose 7% and moved above their 50-day moving average, trading as high as $14.62 before last changing hands at $13.03. Trading volume was about 27.8 million shares.
• The company’s third-quarter results beat expectations: revenue was $269.35 million versus a $245.90 million consensus, and its loss of $0.02 per share was narrower than the expected $0.10 loss.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $29.75. Insiders sold 391,263 shares worth about $6.08 million over the past three months.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $12.95 and traded as high as $14.62. Intuitive Machines shares last traded at $13.03, with a volume of 27,785,289 shares changing hands.

More Intuitive Machines News

Investors following LUNR have been watching these news items:

• Positive Sentiment: Q3 revenue reached $269.35 million, above the $245.90 million consensus, while the reported loss of $0.02 per share was narrower than the expected $0.10 loss. The company also highlighted record revenue, profitability, positive cash flow and backlog. Third-quarter results
• Positive Sentiment: Call-option volume was about 83% above its typical level, indicating increased options-market activity that may reflect bullish positioning, but is not a guarantee of future performance.
• Positive Sentiment: Zacks Research upgraded LUNR from “strong sell” to “hold,” a less bearish assessment.

Wall Street Analysts Forecast Growth

LUNR has been the subject of several recent research reports. B. Riley Financial dropped their price target on shares of Intuitive Machines from $43.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, November 4th. Stifel Nicolaus upgraded Intuitive Machines from a "hold" rating to a "buy" rating and decreased their price target for the company from $32.00 to $26.00 in a report on Friday, August 14th. Bank of America increased their price target on Intuitive Machines from $11.00 to $13.00 and gave the company an "underperform" rating in a research note on Monday, August 31st. KeyCorp reduced their price objective on shares of Intuitive Machines from $38.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, November 2nd. Finally, Zacks Research upgraded Intuitive Machines from a "strong sell" rating to a "hold" rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $29.75.

Intuitive Machines Stock Up 7.0%

The stock's fifty day moving average is $12.95 and its two-hundred day moving average is $19.30. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -13.72 and a beta of 1.91.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its earnings results on Thursday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.08. The firm had revenue of $269.35 million during the quarter, compared to analyst estimates of $245.90 million. As a group, analysts anticipate that Intuitive Machines, Inc. will post -0.60 EPS for the current year.

Insider Activity

In other Intuitive Machines news, SVP Timothy Crain, II sold 50,000 shares of Intuitive Machines stock in a transaction on Monday, September 21st. The shares were sold at an average price of $15.05, for a total transaction of $752,500.00. Following the completion of the transaction, the senior vice president directly owned 351,279 shares of the company's stock, valued at $5,286,748.95. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $16.13, for a total transaction of $49,196.50. Following the sale, the insider owned 113,997 shares of the company's stock, valued at approximately $1,838,771.61. This represents a 2.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 391,263 shares of company stock valued at $6,077,802 over the last three months. Insiders own 54.10% of the company's stock.

Institutional Trading of Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock valued at $52,000 after buying an additional 712 shares in the last quarter. Nykredit A S acquired a new stake in shares of Intuitive Machines during the second quarter worth $25,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Intuitive Machines by 2.4% during the first quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company's stock worth $996,000 after buying an additional 1,235 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Intuitive Machines by 119.7% during the third quarter. Signaturefd LLC now owns 2,390 shares of the company's stock worth $34,000 after buying an additional 1,302 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its position in shares of Intuitive Machines by 4.9% in the third quarter. Kestra Advisory Services LLC now owns 29,969 shares of the company's stock valued at $427,000 after acquiring an additional 1,392 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

Intuitive Machines is a space exploration and infrastructure company headquartered in Houston, Texas. It develops and operates lunar landers and provides services intended to support missions to the Moon and other space destinations. The company's offerings include lunar payload delivery, spacecraft and mission operations, and communications and data services. Its Nova-C lunar lander is designed to carry scientific instruments and other customer payloads to the lunar surface, including through NASA's Commercial Lunar Payload Services program.

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