Intuitive Machines (NASDAQ:LUNR) Shares Up 1.5% – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) rose 1.5% during trading on Thursday . The company traded as high as $8.48 and last traded at $8.19. Approximately 3,736,638 shares changed hands during trading, a decline of 57% from the average daily volume of 8,734,615 shares. The stock had previously closed at $8.07.

Wall Street Analysts Forecast Growth

LUNR has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Monday, September 30th. Roth Mkm reissued a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, B. Riley upped their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $10.60.

Intuitive Machines Price Performance

The business’s 50-day moving average is $6.61 and its 200 day moving average is $5.25. The firm has a market capitalization of $993.32 million, a P/E ratio of 19.98 and a beta of 0.34.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to analyst estimates of $43.00 million. Analysts anticipate that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 440,288 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $5,492,841.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Stephen J. Altemus sold 440,288 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $5,492,841.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 250,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $9.01, for a total transaction of $2,252,500.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $8,207,380.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,115,621 shares of company stock valued at $30,427,371 in the last three months. Corporate insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUNR. Hennion & Walsh Asset Management Inc. bought a new position in shares of Intuitive Machines in the 3rd quarter valued at $189,000. Waldron Private Wealth LLC bought a new stake in shares of Intuitive Machines during the 3rd quarter worth $83,000. Creative Planning acquired a new stake in Intuitive Machines in the third quarter valued at about $105,000. SG Americas Securities LLC bought a new position in Intuitive Machines in the third quarter valued at about $93,000. Finally, Sender Co & Partners Inc. acquired a new position in Intuitive Machines during the second quarter worth about $56,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.