Intuitive Machines (NASDAQ:LUNR) Trading 5.2% Higher Following Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) shot up 5.2% during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $21.00 to $21.50. Canaccord Genuity Group currently has a buy rating on the stock. Intuitive Machines traded as high as $12.62 and last traded at $12.24. 4,243,937 shares changed hands during trading, a decline of 66% from the average session volume of 12,325,633 shares. The stock had previously closed at $11.63.

LUNR has been the subject of several other research reports. Bank of America assumed coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Roth Capital restated a “buy” rating on shares of Intuitive Machines in a report on Tuesday. Roth Mkm decreased their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft started coverage on Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Moderate Buy” and an average price target of $16.44.

Insider Transactions at Intuitive Machines

In related news, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total transaction of $866,016.00. Following the sale, the chief financial officer now directly owns 366,824 shares in the company, valued at approximately $4,401,888. This trade represents a 16.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of Intuitive Machines stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total value of $1,948,293.60. Following the sale, the director now owns 3,494,768 shares in the company, valued at $42,286,692.80. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,090 shares of company stock worth $3,106,565 in the last quarter. 73.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LUNR. Barclays PLC grew its position in shares of Intuitive Machines by 275.2% during the 3rd quarter. Barclays PLC now owns 37,323 shares of the company’s stock valued at $300,000 after acquiring an additional 27,376 shares during the period. Connective Portfolio Management LLC bought a new position in shares of Intuitive Machines during the 4th quarter valued at approximately $872,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Intuitive Machines by 144.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 57,463 shares of the company’s stock valued at $1,044,000 after acquiring an additional 33,939 shares during the period. Sanders Morris Harris LLC bought a new position in shares of Intuitive Machines during the 4th quarter valued at approximately $454,000. Finally, SG Americas Securities LLC raised its stake in Intuitive Machines by 55.7% in the 4th quarter. SG Americas Securities LLC now owns 18,046 shares of the company’s stock valued at $328,000 after acquiring an additional 6,454 shares during the period. 72.21% of the stock is owned by institutional investors.

Intuitive Machines Price Performance

The firm has a market capitalization of $2.11 billion, a PE ratio of -4.02 and a beta of 1.32. The company’s fifty day simple moving average is $8.10 and its 200 day simple moving average is $13.06.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Tuesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.10). The business had revenue of $62.52 million for the quarter, compared to analysts’ expectations of $66.07 million. On average, analysts anticipate that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

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.