Intuitive Machines (NASDAQ:LUNR) Shares Climb 7.1% – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were up 7.1% on Wednesday. The stock traded as high as $11.37 and last traded at $11.2850. Approximately 1,569,516 shares were traded during mid-day trading, a decline of 87% from the average session volume of 11,699,532 shares. The stock had previously closed at $10.54.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LUNR shares. Roth Capital set a $30.00 price objective on Intuitive Machines in a report on Thursday, August 13th. B. Riley Financial lowered their price objective on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Canaccord Genuity Group dropped their target price on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Stifel Nicolaus upgraded Intuitive Machines from a “hold” rating to a “buy” rating and reduced their target price for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research note on Monday, September 21st. Seven research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.50.

Intuitive Machines Stock Up 4.0%

The business’s fifty day moving average is $14.99 and its 200-day moving average is $20.83. The stock has a market capitalization of $2.51 billion, a PE ratio of -11.55 and a beta of 1.86.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. As a group, sell-side analysts anticipate that Intuitive Machines, Inc. will post -0.60 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at approximately $1,838,771.61. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 1,698 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total value of $27,168.00. Following the sale, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $55,916,288. This trade represents a 0.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,201,528 shares of company stock valued at $158,629,235. Corporate insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after purchasing an additional 712 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in shares of Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock worth $206,000 after purchasing an additional 1,000 shares during the period. Nykredit A S purchased a new stake in shares of Intuitive Machines during the 2nd quarter worth about $25,000. The Manufacturers Life Insurance Company increased its position in Intuitive Machines by 2.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock worth $996,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Intuitive Machines by 32.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,919 shares of the company’s stock worth $99,000 after purchasing an additional 1,711 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA’s Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.