Intuitive Machines (NASDAQ:LUNR) Shares Gap Up - Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LUNR. B. Riley upped their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a report on Friday, November 15th. Cantor Fitzgerald raised their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Roth Mkm reissued a "buy" rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, Canaccord Genuity Group raised their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $15.80.

Intuitive Machines Price Performance

The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -6.48 and a beta of 0.90. The firm's 50-day simple moving average is $14.76 and its two-hundred day simple moving average is $8.93.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, the director now owns 3,494,768 shares of the company's stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of the business'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 completion of the sale, the senior vice president now owns 362,810 shares of the company's stock, valued at $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,954,713 shares of company stock valued at $24,475,385 in the last 90 days. 73.68% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

A number of large investors have recently modified their holdings of LUNR. Tealwood Asset Management Inc. lifted its holdings in Intuitive Machines by 4.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company's stock valued at $380,000 after acquiring an additional 900 shares during the last quarter. State Street Corp increased its stake in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company's stock valued at $4,637,000 after buying an additional 7,538 shares during the period. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines during the third quarter worth $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $85,000. Finally, SG Americas Securities LLC acquired a new position in shares of Intuitive Machines during the 3rd quarter worth $93,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Company Profile

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.