Shares of Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report) were up 13.3% during mid-day trading on Thursday . The company traded as high as $46.75 and last traded at $45.70. Approximately 23,589,378 shares changed hands during trading, an increase of 75% from the average daily volume of 13,493,616 shares. The stock had previously closed at $40.34.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on LUNR shares. Roth Mkm upped their price objective on Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research report on Friday, May 15th. KeyCorp upped their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald upped their price objective on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight 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, the company has a consensus rating of “Hold” and a consensus target price of $31.50.
Get Our Latest Stock Analysis on LUNR
Intuitive Machines Stock Up 13.3%
Intuitive Machines (NASDAQ:LUNR – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. On average, research analysts expect that Intuitive Machines, Inc. will post -0.44 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Stephen J. Altemus sold 13,751 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $324,661.11. Following the transaction, the chief executive officer owned 1,162,495 shares of the company’s stock, valued at $27,446,506.95. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Peter Mcgrath sold 24,554 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $579,719.94. Following the completion of the transaction, the chief financial officer directly owned 401,246 shares in the company, valued at approximately $9,473,418.06. This trade represents a 5.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 1,048,206 shares of company stock worth $24,782,839. Corporate insiders own 54.10% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Trustees of the University of Pennsylvania bought a new position in Intuitive Machines in the fourth quarter worth approximately $52,689,000. First Trust Advisors LP grew its stake in 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 purchasing an additional 2,386,688 shares in the last quarter. Renaissance Technologies LLC bought a new position in Intuitive Machines in the first quarter worth approximately $35,895,000. Jump Financial LLC grew its stake in 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 purchasing an additional 1,314,888 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares in the last quarter. 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.
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