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

Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually large options trading on Thursday. Stock traders purchased 79,143 call options on the stock. This represents an increase of approximately 38% compared to the typical daily volume of 57,328 call options.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $52,561,310.72. The trade was a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the completion of the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,702,731 shares of company stock worth $18,475,694. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines in the second quarter valued at approximately $272,000. Rhumbline Advisers acquired a new position in Intuitive Machines in the 2nd quarter valued at $119,000. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines during the 2nd quarter worth $35,000. XTX Topco Ltd acquired a new stake in shares of Intuitive Machines during the second quarter worth $164,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Intuitive Machines in the second quarter valued at $536,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group lowered their price target on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a report on Friday, December 6th. Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report 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 report on Thursday, September 19th. Benchmark raised their target price 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. Finally, Cantor Fitzgerald lifted their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $14.10.

Intuitive Machines Stock Down 3.6 %

Shares of NASDAQ:LUNR opened at $18.39 on Friday. The company has a market capitalization of $2.58 billion, a P/E ratio of -6.26 and a beta of 0.91. Intuitive Machines has a 52-week low of $2.09 and a 52-week high of $19.62. The stock’s fifty day simple moving average is $11.92 and its 200-day simple moving average is $7.52.

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.