Intuitive Machines (NASDAQ:LUNR) Stock Jumps 11.7% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) was up 11.7% on Friday. The stock traded as high as $9.75 and last traded at $9.6310. 2,747,905 shares changed hands during trading, a decline of 76% from the average session volume of 11,433,897 shares. The stock had previously closed at $8.62.

Analyst Upgrades and Downgrades

LUNR has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Intuitive Machines in a report on Monday, September 21st. Canaccord Genuity Group lowered their target price on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Stifel Nicolaus raised Intuitive Machines from a “hold” rating to a “buy” rating and dropped their target price for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Roth Capital set a $30.00 price target on Intuitive Machines in a research note on Thursday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Seven analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Hold” and a consensus target price of $29.75.

Intuitive Machines Trading Up 14.5%

The stock has a market capitalization of $2.26 billion, a PE ratio of -10.53 and a beta of 1.91. The firm has a 50 day moving average price of $13.29 and a 200 day moving average price of $19.50.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. On average, equities research analysts expect that Intuitive Machines, Inc. will post -0.60 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven Vontur sold 3,050 shares of Intuitive Machines 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 transaction, the insider directly owned 113,997 shares of the company’s stock, valued at $1,838,771.61. The trade was a 2.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total value of $27,168.00. Following the transaction, the director owned 3,494,768 shares of the company’s stock, valued at approximately $55,916,288. This trade represents a 0.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 658,711 shares of company stock worth $10,402,436 over the last quarter. 54.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Intuitive Machines in the third quarter worth approximately $98,725,000. Tema ETFs LLC raised its position 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 valued at $66,418,000 after purchasing an additional 3,102,854 shares during the period. Tidal Investments LLC purchased a new position in shares of Intuitive Machines during the 2nd quarter valued at $64,452,000. Renaissance Technologies LLC purchased a new position in shares of Intuitive Machines during the 1st quarter valued at $35,895,000. Finally, Bank of America Corp DE boosted its holdings in Intuitive Machines by 188.9% in the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after buying an additional 1,231,188 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.