Intuitive Machines (NASDAQ:LUNR) Stock Price Up 10.2% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price rose 10.2% during trading on Friday . The stock traded as high as $37.71 and last traded at $37.7410. Approximately 4,327,904 shares changed hands during trading, a decline of 66% from the average daily volume of 12,712,582 shares. The stock had previously closed at $34.24.

Analyst Upgrades and Downgrades

LUNR has been the topic of several analyst reports. Cantor Fitzgerald raised their target price on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday. Finally, Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Price Performance

The stock has a 50 day moving average price of $25.06 and a 200-day moving average price of $18.61. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of -43.48 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Stephen J. Altemus sold 13,751 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $324,661.11. Following the transaction, the chief executive officer owned 1,162,495 shares in the company, valued at approximately $27,446,506.95. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total value of $5,330,102.04. Following the transaction, the director owned 3,494,768 shares in the company, valued at approximately $65,631,743.04. The trade was a 7.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,048,206 shares of company stock worth $24,782,839. 54.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Intuitive Machines in the fourth quarter valued at $28,000. State of Wyoming purchased a new stake in Intuitive Machines in the first quarter valued at $39,000. Larson Financial Group LLC raised its position in Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after purchasing an additional 1,016 shares during the period. GAMMA Investing LLC raised its position in Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after purchasing an additional 712 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.