Intuitive Machines (NASDAQ:LUNR) Shares Gap Up - Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares 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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LUNR. Roth Mkm reiterated a "buy" rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. B. Riley lifted 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, Canaccord Genuity Group increased 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $15.80.

Intuitive Machines Price Performance

The stock has a market capitalization of $2.36 billion, a P/E ratio of -5.72 and a beta of 0.90. The firm's 50 day moving average price is $14.36 and its 200 day moving average price is $8.76.

Insiders Place Their Bets

In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.00, for a total transaction of $675,752.00. Following the transaction, the chief executive officer now owns 910,919 shares in the company, valued at approximately $10,020,109. This represents a 6.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares of the company's stock, valued at $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 sold 1,954,713 shares of company stock worth $24,475,385. 73.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in shares of Intuitive Machines during the second quarter valued at approximately $272,000. Rhumbline Advisers bought a new stake in Intuitive Machines in the second quarter worth $119,000. Wedbush Securities Inc. bought a new position in shares of Intuitive Machines during the second quarter valued at $35,000. XTX Topco Ltd bought a new position in Intuitive Machines in the 2nd quarter worth about $164,000. Finally, Squarepoint Ops LLC purchased a new stake in Intuitive Machines during the 2nd quarter valued at about $536,000. 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.