Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Should You Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Tuesday . The stock had previously closed at $16.91, but opened at $17.85. Intuitive Machines shares last traded at $18.02, with a volume of 1,760,818 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on LUNR. B. Riley raised their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald boosted 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. Canaccord Genuity Group raised their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. 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. Finally, Benchmark increased their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Performance

The company has a market capitalization of $2.48 billion, a PE ratio of -6.01 and a beta of 0.90. The company has a 50 day simple moving average of $14.36 and a 200 day simple moving average of $8.76.

Insider Buying and Selling at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This trade represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,954,713 shares of company stock worth $24,475,385. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Several large investors have recently added to or reduced their stakes in LUNR. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines in the second quarter valued at about $35,000. Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines in the 2nd quarter valued at approximately $56,000. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines during the 3rd quarter worth $85,000. Finally, SG Americas Securities LLC purchased a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $93,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.