Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $16.91, but opened at $17.85. Intuitive Machines shares last traded at $18.02, with a volume of 1,760,818 shares traded.

Wall Street Analyst Weigh In

LUNR has been the subject of a number of recent research reports. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Canaccord Genuity Group upped their price target on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. B. Riley raised their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald upped their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Benchmark lifted their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has an average rating of “Buy” and an average price target of $15.80.

Intuitive Machines Trading Up 4.5 %

The company has a 50 day simple moving average of $14.36 and a 200 day simple moving average of $8.76. The stock has a market capitalization of $2.48 billion, a PE ratio of -6.01 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 344,893 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $28,028,039.36. The trade was a 8.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,954,713 shares of company stock worth $24,475,385 over the last 90 days. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LUNR. Tealwood Asset Management Inc. increased its holdings in shares of Intuitive Machines by 4.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock valued at $380,000 after purchasing an additional 900 shares in the last quarter. State Street Corp raised its stake in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines during the third quarter worth $83,000. Wedbush Securities Inc. purchased a new position in Intuitive Machines during the second quarter worth about $35,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines in the 3rd quarter valued at about $85,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.