Intuitive Machines (NASDAQ:LUNR) Trading 5.5% Higher After Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 5.5% on Friday after B. Riley raised their price target on the stock from $8.00 to $12.00. B. Riley currently has a buy rating on the stock. Intuitive Machines traded as high as $9.85 and last traded at $9.79. Approximately 22,063,604 shares changed hands during mid-day trading, an increase of 172% from the average daily volume of 8,109,871 shares. The stock had previously closed at $9.28.

LUNR has been the topic of several other reports. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $10.60.

Insider Transactions at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 203,018 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total value of $919,671.54. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $4,126,463.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Timothy Price Crain II sold 50,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $3.36, for a total value of $168,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $1,219,041.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 203,018 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total value of $919,671.54. Following the transaction, the chief executive officer now owns 910,919 shares in the company, valued at $4,126,463.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,039,827 shares of company stock valued at $20,042,765. 73.68% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines during the second quarter worth approximately $35,000. Baltimore Washington Financial Advisors Inc. purchased a new position in Intuitive Machines in the 1st quarter worth $67,000. Sender Co & Partners Inc. bought a new stake in Intuitive Machines in the second quarter worth $56,000. Sanders Morris Harris LLC purchased a new stake in Intuitive Machines during the first quarter valued at about $119,000. Finally, Deuterium Capital Management LLC purchased a new stake in Intuitive Machines during the first quarter valued at about $125,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Down 1.4 %

The company has a fifty day moving average price of $4.81 and a 200 day moving average price of $4.93. The stock has a market cap of $1.14 billion, a PE ratio of 22.32 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. As a group, research analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

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.