Intuitive Machines (NASDAQ:LUNR) Trading 10.4% Higher – Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were up 10.4% on Thursday . The stock traded as high as $17.33 and last traded at $17.5420. Approximately 5,783,967 shares changed hands during trading, a decline of 48% from the average daily volume of 11,054,129 shares. The stock had previously closed at $15.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LUNR shares. B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Stifel Nicolaus set a $20.00 target price on shares of Intuitive Machines and gave the stock a “hold” rating in a research note on Friday, January 9th. Bank of America upped their price target on shares of Intuitive Machines from $8.50 to $9.50 and gave the company an “underperform” rating in a research note on Wednesday, November 19th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Roth Mkm reiterated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.27.

Intuitive Machines Price Performance

The company has a 50 day moving average of $17.95 and a 200-day moving average of $12.94. The company has a market cap of $3.07 billion, a P/E ratio of -6.88 and a beta of 1.37.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 4,343 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total transaction of $75,741.92. Following the completion of the sale, the insider directly owned 117,047 shares in the company, valued at $2,041,299.68. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Timothy Price Crain II sold 23,226 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $17.44, for a total transaction of $405,061.44. Following the completion of the transaction, the senior vice president directly owned 359,726 shares in the company, valued at $6,273,621.44. The trade was a 6.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,689,913 shares of company stock valued at $62,240,781. Company insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently made changes to their positions in the business. Trustees of the University of Pennsylvania purchased a new position in Intuitive Machines in the 4th quarter worth $52,689,000. First Trust Advisors LP increased its holdings in shares of Intuitive Machines by 3,582.9% in the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after buying an additional 2,386,688 shares during the period. Jump Financial LLC increased its holdings in shares of Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after buying an additional 1,314,888 shares during the period. Geode Capital Management LLC lifted its stake in shares of Intuitive Machines by 78.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,593,135 shares of the company’s stock valued at $28,191,000 after acquiring an additional 1,141,454 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Intuitive Machines by 523.7% during the 4th quarter. Marshall Wace LLP now owns 1,260,459 shares of the company’s stock valued at $20,457,000 after acquiring an additional 1,058,376 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.