Intuitive Machines (NASDAQ:LUNR) Sees Strong Trading Volume on Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually-high trading volume on Thursday after B. Riley raised their price target on the stock from $8.00 to $12.00. B. Riley currently has a buy rating on the stock. Approximately 9,299,727 shares traded hands during trading, an increase of 23% from the previous session’s volume of 7,570,203 shares.The stock last traded at $7.58 and had previously closed at $7.47.

Several other equities analysts also recently commented on LUNR. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday. Finally, Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.60.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Michael Blitzer sold 662,673 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $8.19, for a total transaction of $5,427,291.87. Following the transaction, the director now directly owns 1,062,865 shares in the company, valued at approximately $8,704,864.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Michael Blitzer sold 662,673 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $8.19, for a total value of $5,427,291.87. Following the completion of the sale, the director now owns 1,062,865 shares of the company’s stock, valued at approximately $8,704,864.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Vontur sold 10,274 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total transaction of $57,328.92. Following the transaction, the chief financial officer now owns 117,500 shares in the company, valued at $655,650. The disclosure for this sale can be found here. Insiders sold 3,039,827 shares of company stock worth $20,042,765 over the last three months. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the 2nd quarter worth $35,000. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Intuitive Machines during the first quarter valued at about $67,000. Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines during the second quarter valued at about $56,000. Sanders Morris Harris LLC bought a new stake in shares of Intuitive Machines in the 1st quarter valued at about $119,000. Finally, Deuterium Capital Management LLC purchased a new position in shares of Intuitive Machines in the 1st quarter worth approximately $125,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Stock Performance

The firm’s 50 day moving average is $4.81 and its 200 day moving average is $4.93. The stock has a market cap of $1.14 billion, a P/E ratio of 22.32 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. As a group, analysts expect that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

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.