Intuitive Machines (NASDAQ:LUNR) Trading Up 8.2% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded up 8.2% on Friday . The company traded as high as $24.07 and last traded at $23.7820. 4,440,335 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 12,319,367 shares. The stock had previously closed at $21.97.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Intuitive Machines from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Roth Mkm reaffirmed a “buy” rating on shares of Intuitive Machines in a research report on Wednesday, February 25th. KeyCorp lifted their price target on Intuitive Machines from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.94.

Intuitive Machines Stock Performance

The stock has a 50 day simple moving average of $18.53 and a two-hundred day simple moving average of $15.11. The firm has a market cap of $5.10 billion, a PE ratio of -31.40 and a beta of 1.31.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $44.79 million for the quarter, compared to analysts’ expectations of $53.37 million. Equities research analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Stephen J. Altemus sold 428,503 shares of Intuitive Machines stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $20.06, for a total value of $8,595,770.18. Following the completion of the transaction, the chief executive officer owned 1,026,402 shares in the company, valued at $20,589,624.12. The trade was a 29.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy Price Crain II sold 170,185 shares of Intuitive Machines stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $20.06, for a total value of $3,413,911.10. Following the completion of the transaction, the senior vice president owned 298,435 shares of the company’s stock, valued at approximately $5,986,606.10. This represents a 36.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,397,311 shares of company stock worth $27,242,918. Corporate insiders own 39.75% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in Intuitive Machines in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC increased its position in shares of Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after acquiring an additional 781 shares during the period. Larson Financial Group LLC increased its position in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after acquiring an additional 1,016 shares during the period. CWM LLC increased its position in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after acquiring an additional 2,337 shares during the period. Finally, Sunbelt Securities Inc. increased its position in shares of Intuitive Machines by 144.8% during the fourth quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company’s stock worth $48,000 after acquiring an additional 1,738 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.