Intuitive Machines (NASDAQ:LUNR) Shares Up 3.6% – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price shot up 3.6% during mid-day trading on Wednesday . The company traded as high as $14.14 and last traded at $13.96. Approximately 3,717,372 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 13,510,383 shares. The stock had previously closed at $13.47.

Analyst Ratings Changes

A number of research analysts have commented on LUNR shares. Benchmark increased their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Bank of America initiated coverage on Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target for the company. Canaccord Genuity Group upped their price objective on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald upped their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.14.

Intuitive Machines Stock Performance

The stock has a 50 day moving average of $19.07 and a 200 day moving average of $12.63. The stock has a market capitalization of $1.95 billion, a P/E ratio of -4.72 and a beta of 1.01.

Insider Transactions at Intuitive Machines

In related news, insider Steven Vontur sold 4,528 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the sale, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 393,659 shares of company stock worth $7,262,364. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LUNR. Tealwood Asset Management Inc. boosted its stake in Intuitive Machines by 4.5% during 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. Invesco Ltd. lifted its holdings in shares of Intuitive Machines by 8.3% in the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock valued at $244,000 after buying an additional 1,026 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Intuitive Machines by 10.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock valued at $312,000 after buying an additional 1,566 shares in the last quarter. Quarry LP acquired a new position in Intuitive Machines during the fourth quarter worth about $44,000. Finally, Bank of New York Mellon Corp raised its position in Intuitive Machines by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company’s stock worth $1,285,000 after acquiring an additional 2,499 shares in the last quarter. Institutional investors and hedge funds 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.