Intuitive Machines (NASDAQ:LUNR) Stock Price Up 12.2% Following Analyst Upgrade

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) rose 12.2% during mid-day trading on Friday after Canaccord Genuity Group raised their price target on the stock from $11.00 to $12.50. Canaccord Genuity Group currently has a buy rating on the stock. Intuitive Machines traded as high as $11.49 and last traded at $11.48. Approximately 5,931,064 shares changed hands during trading, a decline of 36% from the average daily volume of 9,338,005 shares. The stock had previously closed at $10.23.

Several other equities research analysts also recently weighed in on the stock. B. Riley raised their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Roth Mkm reaffirmed a "buy" rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Benchmark increased their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $13.10.

Insiders Place Their Bets

In other news, CEO Stephen J. Altemus sold 138,568 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the sale, the chief executive officer now directly owns 910,919 shares of the company's stock, valued at $10,111,200.90. This represents a 13.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the completion of the transaction, the director now directly owns 3,551,606 shares of the company's stock, valued at approximately $21,593,764.48. This trade represents a 13.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,763,571 shares of company stock worth $38,671,383. Corporate insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of LUNR. Vanguard Group Inc. grew its holdings in Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company's stock valued at $3,758,000 after purchasing an additional 429,531 shares during the last quarter. State Street Corp lifted its stake in shares of Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company's stock worth $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Intuitive Machines in the 2nd quarter valued at about $536,000. Penserra Capital Management LLC grew its holdings in Intuitive Machines by 16.5% in the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company's stock worth $1,190,000 after purchasing an additional 20,916 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Intuitive Machines by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company's stock worth $836,000 after acquiring an additional 32,015 shares in the last quarter. Institutional investors own 72.21% of the company's stock.

Intuitive Machines Trading Up 21.4 %

The firm's 50-day simple moving average is $7.87 and its two-hundred day simple moving average is $5.66. The company has a market cap of $1.60 billion, a PE ratio of -13.99 and a beta of 0.35.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.09. The firm had revenue of $41.41 million during the quarter, compared to analyst estimates of $43.00 million. As a group, analysts predict that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

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.