Traders Purchase Large Volume of Call Options on Intuitive Machines (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR) saw unusually large options trading on Friday. Traders purchased 13,533 call options on the stock. This represents an increase of 422% compared to the typical volume of 2,594 call options.

Intuitive Machines Price Performance

LUNR stock traded down $0.03 during midday trading on Friday, hitting $4.03. The company’s stock had a trading volume of 3,422,797 shares, compared to its average volume of 5,475,615. The company’s fifty day moving average price is $3.87 and its 200 day moving average price is $4.95. Intuitive Machines has a twelve month low of $2.09 and a twelve month high of $13.25. The stock has a market capitalization of $502.27 million, a P/E ratio of 10.41 and a beta of 0.21.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Tuesday, May 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $73.07 million during the quarter, compared to analyst estimates of $45.00 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Equities analysts expect that Intuitive Machines will post 0.3 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, CEO Stephen J. Altemus sold 203,018 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total value of $919,671.54. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $4,126,463.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuitive Machines news, CEO Stephen J. Altemus sold 203,018 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total value of $919,671.54. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $4,126,463.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy Price Crain II sold 143,989 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $4.04, for a total value of $581,715.56. Following the completion of the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at $1,465,752.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 481,473 shares of company stock worth $2,004,098. 73.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines in the 2nd quarter valued at about $35,000. Solstein Capital LLC acquired a new position in Intuitive Machines during the first quarter worth approximately $44,000. Sender Co & Partners Inc. bought a new stake in Intuitive Machines in the second quarter valued at approximately $56,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Intuitive Machines in the first quarter valued at approximately $67,000. Finally, Rhumbline Advisers bought a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $119,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Analyst Upgrades and Downgrades

LUNR has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday. Roth Mkm reduced their target price on shares of Intuitive Machines from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday. B. Riley began coverage on Intuitive Machines in a report on Friday, June 28th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Canaccord Genuity Group decreased their price objective on Intuitive Machines from $14.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines currently has an average rating of “Buy” and an average price target of $9.80.

About Intuitive Machines

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.