Intuitive Machines (NASDAQ:LUNR) Hits New 1-Year High – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price reached a new 52-week high on Thursday . The stock traded as high as $17.89 and last traded at $17.26, with a volume of 5405566 shares changing hands. The stock had previously closed at $16.65.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LUNR. Cantor Fitzgerald upped their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group dropped their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a report on Friday, December 6th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, Benchmark lifted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and an average target price of $14.10.

Intuitive Machines Price Performance

The stock has a market cap of $2.69 billion, a PE ratio of -6.51 and a beta of 0.91. The company has a 50 day moving average price of $11.51 and a two-hundred day moving average price of $7.34.

Insider Buying and Selling

In other news, CEO Stephen J. Altemus sold 61,432 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,020,109. This represents a 6.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 125,991 shares of Intuitive Machines stock in a transaction on Monday, October 7th. The shares were sold at an average price of $7.43, for a total value of $936,113.13. Following the transaction, the director now owns 3,494,768 shares in the company, valued at $25,966,126.24. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,701,785 shares of company stock valued at $18,458,666 over the last 90 days. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after buying an additional 222,136 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Intuitive Machines in the 2nd quarter worth approximately $536,000. Bank of New York Mellon Corp bought a new position in shares of Intuitive Machines during the 2nd quarter valued at approximately $272,000. Stifel Financial Corp purchased a new stake in Intuitive Machines during the third quarter valued at $525,000. Finally, FORA Capital LLC bought a new position in Intuitive Machines during the third quarter valued at $458,000. Institutional investors own 72.21% of the company’s stock.

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.