Intuitive Machines (NASDAQ:LUNR) Reaches New 52-Week High – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $13.88 and last traded at $13.88, with a volume of 12436959 shares traded. The stock had previously closed at $11.76.

Wall Street Analysts Forecast Growth

LUNR has been the topic of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Friday. Benchmark boosted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. B. Riley raised their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Up 21.4 %

The firm’s 50-day moving average price is $7.87 and its two-hundred day moving average price is $5.66. The firm has a market capitalization of $1.60 billion, a PE ratio of -13.99 and a beta of 0.35.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. Equities research analysts forecast that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the transaction, the director now directly owns 3,551,606 shares of the company’s stock, valued at approximately $21,593,764.48. This trade represents a 13.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the transaction, the chief financial officer now owns 117,500 shares in the company, valued at $655,650. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,763,571 shares of company stock worth $38,671,383. Corporate insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUNR. Vanguard Group Inc. increased its stake in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after acquiring an additional 429,531 shares during the period. Sanders Morris Harris LLC raised its holdings in shares of Intuitive Machines by 264.9% in the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after buying an additional 50,600 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $272,000. Rhumbline Advisers bought a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $119,000. Finally, Wedbush Securities Inc. acquired a new stake in Intuitive Machines in the 2nd quarter valued at $35,000. 72.21% of the stock is owned by institutional investors.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.