Intuitive Machines (NASDAQ:LUNR) Trading 6.6% Higher – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNRGet Free Report)’s share price rose 6.6% during mid-day trading on Thursday . The company traded as high as $15.18 and last traded at $14.79. Approximately 8,246,758 shares traded hands during trading, a decline of 32% from the average daily volume of 12,183,311 shares. The stock had previously closed at $13.87.

Wall Street Analyst Weigh In

LUNR has been the topic of a number of recent research reports. Stifel Nicolaus upgraded shares of Intuitive Machines from a “hold” rating to a “buy” rating and lowered their price target for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Cantor Fitzgerald dropped their price target on Intuitive Machines from $43.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. 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 report on Tuesday, August 18th. Finally, B. Riley Financial reduced their price target on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Get Our Latest Analysis on Intuitive Machines

Intuitive Machines Price Performance

The business has a fifty day moving average of $15.11 and a 200 day moving average of $21.52. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -14.65 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNRGet Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. On average, equities research analysts expect that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven Vontur sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the sale, the insider directly owned 113,997 shares of the company’s stock, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 267,448 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at $56,510,398.56. The trade was a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,193,437 shares of company stock valued at $159,377,936 over the last 90 days. 54.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently modified their holdings of the company. Trustees of the University of Pennsylvania acquired a new stake in shares of Intuitive Machines during the fourth quarter worth about $52,689,000. Tema ETFs LLC grew its stake in shares of Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after acquiring an additional 3,102,854 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Intuitive Machines during the second quarter worth $64,452,000. Renaissance Technologies LLC acquired a new stake in shares of Intuitive Machines in the first quarter valued at $35,895,000. Finally, Bank of America Corp DE boosted its holdings 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 valued at $34,948,000 after purchasing an additional 1,231,188 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

(Get Free Report)

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.

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