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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price passed above its fifty day moving average during trading on Thursday. The stock has a fifty 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.

Intuitive Machines News Roundup

Here’s some of the latest news about LUNR:

• Positive Sentiment: Intuitive Machines announced a lunar contract with potential scope of up to $15 billion, offering a substantial longer-term opportunity, though the maximum scope is not guaranteed revenue. NASA lunar contract
• 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.
• Negative Sentiment: The company still reported a quarterly per-share loss, so investors will likely watch whether its improved financial performance can be sustained.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America increased their price objective 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. KeyCorp lowered their target price on Intuitive Machines from $38.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, November 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Roth Capital set a $30.00 price target on shares of Intuitive Machines in a research report on Thursday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.75.

Intuitive Machines Price Performance

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

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.08. The company had revenue of $269.35 million during the quarter, compared to analysts’ expectations of $245.90 million. On average, analysts forecast that Intuitive Machines, Inc. will post -0.60 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Machines news, SVP Timothy Crain, II sold 50,000 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $15.05, for a total value of $752,500.00. Following the completion of the sale, the senior vice president directly owned 351,279 shares of the company’s stock, valued at approximately $5,286,748.95. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kamal Ghaffarian sold 1,698 shares of the 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 sale, the director directly owned 3,494,768 shares of the company’s stock, valued at $55,916,288. The trade was 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. In the last ninety days, insiders sold 391,263 shares of company stock valued at $6,077,802. Corporate insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in Intuitive Machines by 12.9% during the third quarter. First Trust Advisors LP now owns 599,827 shares of the company’s stock valued at $8,542,000 after purchasing an additional 68,317 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Intuitive Machines during the third quarter valued at approximately $28,000. Private Advisor Group LLC grew its position in Intuitive Machines by 49.9% in the third quarter. Private Advisor Group LLC now owns 21,488 shares of the company’s stock worth $306,000 after acquiring an additional 7,150 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Intuitive Machines by 38.4% in the 3rd quarter. Harbour Investments Inc. now owns 11,938 shares of the company’s stock worth $170,000 after purchasing an additional 3,310 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in Intuitive Machines by 27.0% during the third quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock valued at $238,000 after acquiring an additional 3,550 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.