Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $19.79, but opened at $20.94. Intuitive Machines shares last traded at $20.1730, with a volume of 1,870,127 shares.

Wall Street Analysts Forecast Growth

LUNR has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Roth Mkm lifted their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a report on Friday, April 17th. Cantor Fitzgerald boosted their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. B. Riley Financial reaffirmed a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. Finally, KeyCorp raised their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Price Performance

The company has a market capitalization of $4.64 billion, a P/E ratio of -24.31 and a beta of 1.68. The stock’s 50 day simple moving average is $29.31 and its two-hundred day simple moving average is $22.29.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. As a group, equities research analysts expect that Intuitive Machines, Inc. will post -0.36 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction on Monday, June 1st. The stock was sold at an average price of $39.02, for a total value of $5,537,289.18. Following the completion of the sale, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $136,365,847.36. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Mcgrath sold 24,554 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $579,719.94. Following the sale, the chief financial officer owned 401,246 shares of the company’s stock, valued at approximately $9,473,418.06. The trade was a 5.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 1,066,527 shares of company stock worth $29,896,194. Corporate insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Trustees of the University of Pennsylvania bought a new stake in shares of Intuitive Machines during the fourth quarter worth approximately $52,689,000. First Trust Advisors LP raised its position in shares of Intuitive Machines by 3,582.9% during the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after acquiring an additional 2,386,688 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Intuitive Machines in the 1st quarter valued at $35,895,000. Jump Financial LLC boosted its position in shares of Intuitive Machines by 5,262.9% in the 3rd quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after purchasing an additional 1,314,888 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares during the period. 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.