Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Monday . The stock had previously closed at $13.57, but opened at $14.33. Intuitive Machines shares last traded at $14.32, with a volume of 12,679,634 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LUNR. Benchmark raised their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. B. Riley boosted their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group cut their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research note on Friday, December 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $14.10.

Intuitive Machines Price Performance

The company has a market cap of $2.34 billion, a price-to-earnings ratio of -5.66 and a beta of 0.91. The firm has a 50-day moving average price of $11.17 and a 200 day moving average price of $7.19.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 125,991 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $7.43, for a total transaction of $936,113.13. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at $25,966,126.24. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $4,390,001. The trade was a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,701,785 shares of company stock worth $18,458,666 in the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of large investors have recently modified their holdings of LUNR. FORA Capital LLC bought a new stake in shares of Intuitive Machines during the 3rd quarter worth $458,000. Squarepoint Ops LLC acquired a new position in Intuitive Machines during the second quarter worth about $536,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Intuitive Machines by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after acquiring an additional 32,015 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the 2nd quarter valued at approximately $35,000. Finally, XTX Topco Ltd bought a new stake in shares of Intuitive Machines during the 2nd quarter valued at approximately $164,000. 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.