Intuitive Machines (NASDAQ:LUNR) Trading Up 1.4% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price rose 1.4% during trading on Wednesday . The stock traded as high as $7.24 and last traded at $7.11. Approximately 2,718,679 shares traded hands during trading, a decline of 76% from the average daily volume of 11,560,553 shares. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

LUNR has been the topic of several analyst reports. Canaccord Genuity Group dropped their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. Roth Mkm decreased their target price on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective for the company. Finally, Roth Capital set a $20.00 price objective on Intuitive Machines in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Intuitive Machines Stock Performance

The firm has a 50 day simple moving average of $16.90 and a two-hundred day simple moving average of $12.86. The stock has a market cap of $1.02 billion, a P/E ratio of -2.49 and a beta of 1.01.

Insider Buying and Selling at Intuitive Machines

In other news, insider Steven Vontur sold 4,528 shares of the business’s stock in a transaction 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 owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 392,713 shares of company stock valued at $7,250,066 in the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of LUNR. Two Sigma Investments LP acquired a new stake in shares of Intuitive Machines during the fourth quarter worth $33,255,000. D. E. Shaw & Co. Inc. raised its position in shares of Intuitive Machines by 3,991.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock worth $21,102,000 after purchasing an additional 1,133,581 shares during the period. Vanguard Group Inc. raised its position in shares of Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after purchasing an additional 1,017,706 shares during the period. Renaissance Technologies LLC raised its position in shares of Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock worth $22,170,000 after purchasing an additional 609,118 shares during the period. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Intuitive Machines during the fourth quarter worth $9,133,000. 72.21% of the stock is 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.