Intuitive Machines (NASDAQ:LUNR) Sees Strong Trading Volume – Still a Buy?

by · The Markets Daily

Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report) shares saw an uptick in trading volume on Wednesday . 5,073,422 shares changed hands during trading, a decline of 41% from the previous session’s volume of 8,668,641 shares.The stock last traded at $7.17 and had previously closed at $7.39.

Analysts Set New Price Targets

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

Check Out Our Latest Report on LUNR

Intuitive Machines Stock Performance

The stock’s 50 day moving average price is $5.71 and its two-hundred day moving average price is $5.13.

Intuitive Machines (NASDAQ:LUNR – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. Research analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Timothy Price Crain II sold 74,423 shares of Intuitive Machines stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $3.93, for a total transaction of $292,482.39. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $1,425,843.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Timothy Price Crain II sold 74,423 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $3.93, for a total value of $292,482.39. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $1,425,843.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of Intuitive Machines stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $29,041,522.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,973,746 shares of company stock worth $28,581,000 in the last quarter. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in Intuitive Machines during the second quarter worth $536,000. Vanguard Group Inc. increased its position in Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after purchasing an additional 429,531 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in Intuitive Machines during the 2nd quarter worth about $35,000. XTX Topco Ltd acquired a new position in Intuitive Machines in the 2nd quarter valued at about $164,000. Finally, Bank of New York Mellon Corp purchased a new position in Intuitive Machines in the 2nd quarter valued at about $272,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

(Get Free Report)

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.

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