Intuitive Machines (NASDAQ:LUNR) Trading 3.6% Higher - Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares rose 3.6% during trading on Wednesday . The stock traded as high as $14.14 and last traded at $13.96. Approximately 3,717,372 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 13,510,383 shares. The stock had previously closed at $13.47.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LUNR. Canaccord Genuity Group dropped their price objective on Intuitive Machines from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Friday. Bank of America began coverage on Intuitive Machines in a research report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price objective on the stock. Roth Capital set a $20.00 target price on Intuitive Machines in a report on Friday. Finally, Roth Mkm lowered their price target on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.38.

Intuitive Machines Stock Down 5.8 %

The stock has a market capitalization of $896.82 million, a PE ratio of -2.15 and a beta of 1.01. The business's fifty day moving average is $18.42 and its 200-day moving average is $12.77.

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Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the transaction, the director now directly owns 3,494,768 shares of the company's stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Vontur sold 9,266 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the transaction, the insider now owns 98,656 shares in the company, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 393,659 shares of company stock worth $7,262,364. Corporate insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Intuitive Machines during the fourth quarter valued at $44,000. Jones Financial Companies Lllp raised its stake in Intuitive Machines by 751.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock worth $70,000 after acquiring an additional 3,381 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines during the third quarter valued at approximately $85,000. Steward Partners Investment Advisory LLC raised its position in shares of Intuitive Machines by 201.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock worth $90,000 after purchasing an additional 3,300 shares during the period. Finally, Ancora Advisors LLC bought a new stake in shares of Intuitive Machines in the 4th quarter worth approximately $91,000. 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.