Intuitive Machines (NASDAQ:LUNR) Stock Price Up 7.1% - Still a Buy?

Key Points

• Intuitive Machines shares rose 7.1% to $11.2850, though trading volume was 87% below the average session volume. The company has a $2.51 billion market capitalization and remains well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: seven analysts rate the stock a Buy and three rate it a Sell, resulting in an overall “Hold” consensus and an average price target of $30.50.
• The company missed quarterly expectations, reporting a loss of $0.29 per share versus the expected $0.09 loss and revenue of $206.17 million versus the $212.32 million consensus. Insiders sold substantial shares during the quarter, while institutional investors own 72.21% of the stock.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) rose 7.1% on Wednesday. The company traded as high as $11.37 and last traded at $11.2850. Approximately 1,569,516 shares changed hands during trading, a decline of 87% from the average session volume of 11,699,532 shares. The stock had previously closed at $10.54.

Analyst Ratings Changes

LUNR has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Intuitive Machines in a research report on Monday, September 21st. Roth Capital set a $30.00 target price on shares of Intuitive Machines in a research report on Thursday, August 13th. Bank of America upped their price target on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an "underperform" rating in a research note on Monday, August 31st. Stifel Nicolaus raised shares of Intuitive Machines from a "hold" rating to a "buy" rating and lowered their price target for the stock from $32.00 to $26.00 in a research note on Friday, August 14th. Finally, Canaccord Genuity Group cut their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a "buy" rating for the company in a report on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.50.

Intuitive Machines Stock Up 4.0%

The firm has a fifty day moving average of $14.99 and a 200-day moving average of $20.83. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -11.55 and a beta of 1.86.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The business had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post -0.60 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Crain, II sold 50,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $5,286,748.95. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares of the company's stock, valued at $1,838,771.61. This trade represents a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,201,528 shares of company stock valued at $158,629,235 in the last quarter. Insiders own 54.10% of the company's stock.

Institutional Trading of Intuitive Machines

Large investors have recently modified their holdings of the business. Tema ETFs LLC boosted its stake in shares of Intuitive Machines by 139,768.2% during the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company's stock worth $66,418,000 after purchasing an additional 3,102,854 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Intuitive Machines during the second quarter worth about $64,452,000. Renaissance Technologies LLC acquired a new position in shares of Intuitive Machines in the first quarter valued at approximately $35,895,000. Bank of America Corp DE raised its position in shares of Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company's stock valued at $34,948,000 after buying an additional 1,231,188 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Intuitive Machines by 202.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company's stock valued at $8,567,000 after buying an additional 308,755 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA's Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.

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