Intuitive Machines (NASDAQ:LUNR) Reaches New 52-Week High – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $20.79 and last traded at $20.42, with a volume of 6729337 shares traded. The stock had previously closed at $18.16.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a report on Friday, December 6th. Benchmark boosted their target price on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. B. Riley raised their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, 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 research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines presently has an average rating of “Buy” and a consensus price target of $14.10.

Intuitive Machines Stock Performance

The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -7.03 and a beta of 0.93. The business has a fifty day moving average of $12.53 and a two-hundred day moving average of $7.84.

Insider Buying and Selling

In related news, CEO Stephen J. Altemus sold 61,432 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total value 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 approximately $10,020,109. The trade was a 6.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of Intuitive Machines stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $28,028,039.36. This trade represents a 8.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,702,731 shares of company stock worth $18,475,694 in the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares during the last quarter. State Street Corp lifted its position in shares of Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Intuitive Machines in the second quarter worth about $536,000. Penserra Capital Management LLC increased its holdings in Intuitive Machines by 16.5% in the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock valued at $1,190,000 after buying an additional 20,916 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after buying an additional 32,015 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.