Intuitive Machines Sees Unusually High Options Volume (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR) was the target of unusually large options trading activity on Friday. Stock traders bought 66,457 call options on the company. This is an increase of approximately 710% compared to the typical volume of 8,204 call options.

Analysts Set New Price Targets

Several research analysts have commented on LUNR shares. Roth Mkm upped their price objective on shares of Intuitive Machines from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, August 14th. Canaccord Genuity Group decreased their price objective on shares of Intuitive Machines from $14.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Benchmark restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, August 14th. Finally, B. Riley started coverage on shares of Intuitive Machines in a report on Friday, June 28th. They issued a “buy” rating and a $8.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines has an average rating of “Buy” and a consensus price target of $9.80.

Insiders Place Their Bets

In other news, SVP Timothy Price Crain II sold 125,577 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $4.02, for a total value of $504,819.54. Following the completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $1,458,496.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Stephen J. Altemus sold 203,018 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total transaction of $919,671.54. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $4,126,463.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy Price Crain II sold 125,577 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $4.02, for a total transaction of $504,819.54. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at $1,458,496.20. The disclosure for this sale can be found here. Insiders sold a total of 607,050 shares of company stock valued at $2,508,917 in the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Intuitive Machines by 250.0% in the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares during the period. Sanders Morris Harris LLC purchased a new stake in shares of Intuitive Machines in the 1st quarter worth about $119,000. Inscription Capital LLC purchased a new stake in shares of Intuitive Machines in the 1st quarter worth about $304,000. Tealwood Asset Management Inc. purchased a new stake in Intuitive Machines during the 1st quarter valued at about $131,000. Finally, Deuterium Capital Management LLC purchased a new stake in Intuitive Machines during the 1st quarter valued at about $125,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Price Performance

NASDAQ:LUNR opened at $4.97 on Friday. The firm’s 50-day moving average price is $4.09 and its 200-day moving average price is $5.03. The company has a market capitalization of $619.42 million, a PE ratio of 12.12 and a beta of 0.21. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $13.25.

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.