Intuitive Machines (NASDAQ:LUNR) Trading 12.1% Higher – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) traded up 12.1% during trading on Thursday . The stock traded as high as $9.28 and last traded at $9.26. 12,439,301 shares traded hands during trading, an increase of 42% from the average session volume of 8,785,103 shares. The stock had previously closed at $8.26.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Monday, September 30th. B. Riley increased their price target 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. Finally, Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines currently has a consensus rating of “Buy” and a consensus target price of $10.60.

Intuitive Machines Price Performance

The business’s 50 day moving average is $7.23 and its two-hundred day moving average is $5.45. The firm has a market capitalization of $1.22 billion, a PE ratio of -11.00 and a beta of 0.35.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. Analysts expect that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 125,577 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $4.02, for a total transaction of $504,819.54. Following the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $1,458,496.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Stephen J. Altemus sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $9.01, for a total value of $2,252,500.00. Following the transaction, the chief executive officer now owns 910,919 shares in the company, valued at approximately $8,207,380.19. This trade represents a 0.00 % 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, SVP Timothy Price Crain II sold 125,577 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $4.02, for a total transaction of $504,819.54. Following the completion of the transaction, the senior vice president now owns 362,810 shares in the company, valued at $1,458,496.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,214,900 shares of company stock worth $31,526,135 over the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Deuterium Capital Management LLC purchased a new position in Intuitive Machines during the first quarter valued at $125,000. Baltimore Washington Financial Advisors Inc. purchased a new position in Intuitive Machines during the first quarter valued at $67,000. Vanguard Group Inc. lifted its position in Intuitive Machines by 250.0% during the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after buying an additional 429,531 shares during the period. Sanders Morris Harris LLC lifted its position in Intuitive Machines by 264.9% during the second quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after buying an additional 50,600 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Intuitive Machines during the second quarter valued at $272,000. 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.