Intuitive Machines (NASDAQ:LUNR) Trading 3.6% Higher – Here’s Why

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

Analyst Upgrades and Downgrades

LUNR has been the topic of a number of research reports. Bank of America started coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price on the stock. Cantor Fitzgerald raised their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Benchmark boosted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target for the company. Finally, Canaccord Genuity Group lowered their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.57.

Intuitive Machines Price Performance

The company’s fifty day simple moving average is $18.86 and its 200-day simple moving average is $12.63. The firm has a market capitalization of $1.23 billion, a PE ratio of -2.98 and a beta of 1.01.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 393,659 shares of company stock valued at $7,262,364. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of LUNR. PharVision Advisers LLC purchased a new stake in shares of Intuitive Machines in the 4th quarter valued at approximately $185,000. Voloridge Investment Management LLC purchased a new position in shares of Intuitive Machines in the 4th quarter valued at about $3,768,000. Soviero Asset Management LP grew its holdings in Intuitive Machines by 65.0% during the 4th quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after acquiring an additional 130,000 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Intuitive Machines during the fourth quarter worth $4,971,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Intuitive Machines during the 4th quarter worth about $33,255,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.