Intuitive Machines (NASDAQ:LUNR) Sets New 52-Week High – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $17.89 and last traded at $17.26, with a volume of 5405566 shares changing hands. The stock had previously closed at $16.65.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. Canaccord Genuity Group reduced their target price on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research report on Friday, December 6th. Cantor Fitzgerald raised their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. B. Riley boosted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Benchmark raised 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, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $14.10.

Intuitive Machines Trading Up 15.0 %

The stock has a market capitalization of $2.69 billion, a PE ratio of -6.51 and a beta of 0.91. The business has a fifty day moving average price of $11.51 and a 200-day moving average price of $7.34.

Insider Buying and Selling

In other news, SVP Timothy Price Crain II sold 400,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $52,561,310.72. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,701,785 shares of company stock worth $18,458,666 in the last quarter. 73.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of large investors have recently added to or reduced their stakes in LUNR. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines during the third quarter worth about $83,000. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines during the second quarter valued at approximately $35,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines in the third quarter worth $85,000. SG Americas Securities LLC purchased a new position in Intuitive Machines during the 3rd quarter valued at $93,000. Finally, Creative Planning bought a new position in Intuitive Machines in the 3rd quarter worth $105,000. Institutional investors own 72.21% of the company’s stock.

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.