Intuitive Machines (NASDAQ:LUNR) Stock Price Up 2.1% - Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) traded up 2.1% during mid-day trading on Tuesday . The stock traded as high as $18.30 and last traded at $17.26. 3,969,054 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 14,554,187 shares. The stock had previously closed at $16.91.

Analysts Set New Price Targets

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

Intuitive Machines Trading Down 0.6 %

The firm has a market capitalization of $2.36 billion, a P/E ratio of -5.72 and a beta of 0.90. The stock has a 50 day simple moving average of $14.54 and a 200-day simple moving average of $8.86.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on 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 $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 138,568 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 910,919 shares of the company's stock, valued at approximately $10,111,200.90. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,954,713 shares of company stock worth $24,475,385. Corporate insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently made changes to their positions in LUNR. Connective Portfolio Management LLC bought a new stake in Intuitive Machines during the 4th quarter valued at approximately $872,000. Tealwood Asset Management Inc. boosted its position in shares of Intuitive Machines by 4.5% during the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company's stock worth $380,000 after acquiring an additional 900 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Intuitive Machines during the fourth quarter valued at $904,000. Barclays PLC increased its holdings in Intuitive Machines by 275.2% in the 3rd quarter. Barclays PLC now owns 37,323 shares of the company's stock valued at $300,000 after acquiring an additional 27,376 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company's stock worth $7,514,000 after purchasing an additional 222,136 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.