Intuitive Machines (NASDAQ:LUNR) Stock Jumps 3% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 3% on Thursday. The stock traded as high as $16.08 and last traded at $15.70. 7,995,189 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 12,129,670 shares. The stock had previously closed at $15.24.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. B. Riley Financial cut their target price on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research report on Friday, July 17th. Finally, Roth Capital set a $30.00 target price on Intuitive Machines in a research note on Thursday, August 13th. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Trading Down 0.6%

The stock’s fifty day moving average is $15.24 and its two-hundred day moving average is $21.44. The company has a market capitalization of $3.57 billion, a PE ratio of -16.43 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The company had revenue of $206.17 million for the quarter, compared to analyst estimates of $212.32 million. As a group, analysts anticipate that Intuitive Machines, Inc. will post -0.6 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Ghaffarian sold 1,698 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $16.00, for a total value of $27,168.00. Following the completion of the sale, the director directly owned 3,494,768 shares of the company’s stock, valued at $55,916,288. This trade represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the sale, the insider owned 113,997 shares in the company, valued at approximately $1,838,771.61. The trade was 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. Over the last ninety days, insiders sold 12,343,437 shares of company stock valued at $161,528,436. Corporate insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after purchasing an additional 712 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock valued at $206,000 after buying an additional 1,000 shares in the last quarter. Nykredit A S bought a new position in Intuitive Machines in the 2nd quarter worth approximately $25,000. Handelsbanken Fonder AB boosted its holdings in Intuitive Machines by 3.6% in the 4th quarter. Handelsbanken Fonder AB now owns 34,400 shares of the company’s stock worth $558,000 after buying an additional 1,200 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Intuitive Machines by 2.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after buying an additional 1,235 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.