Intuitive Machines (NASDAQ:LUNR) Trading Up 5.8% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was up 5.8% on Friday . The stock traded as high as $20.24 and last traded at $19.79. 15,943,648 shares were traded during mid-day trading, an increase of 17% from the average session volume of 13,618,783 shares. The stock had previously closed at $18.70.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LUNR shares. KeyCorp boosted their target price on shares of Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Roth Mkm increased their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Performance

The company has a market capitalization of $4.30 billion, a PE ratio of -22.50 and a beta of 1.68. The company’s fifty day moving average is $29.64 and its 200-day moving average is $22.10.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. On average, sell-side analysts expect that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity

In other Intuitive Machines news, Director William John Liquori, Jr. sold 18,321 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.87, for a total value of $547,248.27. Following the completion of the sale, the director owned 68,875 shares in the company, valued at approximately $2,057,296.25. This represents a 21.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy Price Crain II sold 150,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the sale, the senior vice president directly owned 351,279 shares in the company, valued at approximately $7,682,471.73. This represents a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,066,527 shares of company stock worth $29,896,194. 54.10% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its stake in Intuitive Machines by 188.9% during the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after purchasing an additional 1,231,188 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in Intuitive Machines in the 1st quarter worth approximately $59,000. Janus Henderson Group PLC boosted its stake in Intuitive Machines by 38.9% in the 1st quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock worth $947,000 after purchasing an additional 14,300 shares during the period. California State Teachers Retirement System grew its holdings in Intuitive Machines by 28.2% during the 1st quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after buying an additional 27,793 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Intuitive Machines by 2.4% during the first quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after buying an additional 1,235 shares during the last quarter. 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.